Tax collections exceed revised estimates

NEW DELHI, MAY 2. Total tax collections during 1999-2000 rose to Rs. 170,118 crores from Rs. 142,630 crores in the previous year and against the revised estimates of Rs. 169,385 crores. This is 19.27 per cent higher than last year's collections and Rs. 733 crores above the revised estimates, an official release said here today.

Tax collections, direct and indirect, during March registered a 28.9 per cent growth at Rs. 31,724 crores againt Rs. 24,611 crores.

Indirect tax collections during the year at Rs. 112,536 crores were 16.77 per cent higher compared to Rs. 96,371 crores in the previous year. The revised estimates for last year had put these at Rs. 111,311 crores.

Excise duty collections during the year were up by 17.03 per cent to Rs. 61,389 crores from Rs. 52,454 crores a year ago, while customs duty collections went up by an almost similar 17.05 per cent to Rs. 48,315 crores compared to Rs. 41,278 crores.

Total direct tax collections during the year rose by an impressive 24.48 per cent to Rs. 57,582 crores compared to Rs. 46,259 crores in the previous year. However, these were marginally lower than the revised estimates of Rs. 58,074 crores for the year.

Total income tax collections for 1999-2000 were 25.84 per cent higher at Rs. 25,296 crores compared to Rs. 20,102 crores in the previous year, while corporation tax increased by 25.78 per cent to Rs. 30,697 crores from Rs. 24,404 crores.

Indirect tax collections in March were 11.63 per cent higher at Rs. 13,498 crores compared to Rs. 12,092 crores a year ago, the release said. Among indirect taxes, excise collections during March were higher by 3.51 per cent at Rs. 7,749 crores against Rs. 7,487 crores in March last year.

Collections of customs duty during March were 26.08 per cent higher at Rs. 5,517 crores compared to Rs. 4,376 crores in the corresponding month in the previous year.

Total direct tax collections during March stood at Rs. 18,225 crores as against Rs. 12,518 crores a year ago, recording a growth of 45.58 per cent.

Income tax collections during March rose by 40.46 per cent to Rs. 6,891 crores compared to Rs. 4,906 crores in the same period last year. Corporation tax revenues registered a 49.52 per cent growth in March at Rs. 10,446 crores as against Rs. 6,986 crores in the same month a year ago.

- PTI

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