New Delhi, Nov 30: Government's gross direct and indirect tax collection grew by 8.89 per cent to Rs 1,12,363 crore in April-October this year due to a drastic surge in the corporation tax and a perceptible rise in garnering customs, even as income tax and excise duties mop up limped. The Centre could collect a gross amount of Rs 1,03,192 crore from taxes (both direct and indirect) during the same period in 2002-03.
The growth in gross tax collection had slowed down from over 49 per cent ticked during April-September mainly due to drastic fall in collections especially in October, official sources told reporters here today.
Gross collection, which amounted to mere Rs 18,012 crore during October this year, was substantially lower than Rs 31,408 crore in the previous month of this year.
Till October this year, the gross collection from the corporation tax was up by a whopping over 34 per cent to Rs 20,931 crore as compared to Rs 15,586 crore during the same period in 2002-03.
Corporation tax collection, which had been in negative range in the initial two months of this fiscal, picked up due to "splendid" performance in September, they said.
The gross collections from income tax grew by a mere 1.76 per cent to Rs 17,359 crore during the first seven months of 2003-04 as against Rs 17,059 crore in the corresponding period in the previous year. The growth in income tax was decelerated mainly due to slowdown in the collection in October.
In the indirect taxes, customs collection was up by over 8.0 per cent, while excise duties grew only decimally during April-October this year.
Bureau Report