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Rise In Indian Indirect Tax Collections

by Mary Swire, Tax-News.com, Hong Kong

11 August 2011


India’s Central Board of Excise and Customs has just released its latest analysis of indirect tax collections in the country, showing that a slowdown in industrial output, there has been an increase in revenue from indirect tax.

Indirect tax revenue between April and July this year had risen 27% over the same period last year, although this was on the whole due to a 54% rise in service tax receipts.

The increase in revenue was a surprise to some commentators, because customs duties on crude oil and petroleum products, owing to unrest in the global oil market, were reduced in June to zero and excise duties on diesel were reduced by INR2.6 (USD0.06) per litre.

Chairman of the Central Board of Excise and Customs Dutt Majumdar said that the figures were a sign of growth in economic activity, and that the Board was hopeful of this continuing if these latest statistics were anything to go by.

TAGS: tax | sales tax | India | stamp duty | revenue statistics | services

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