Slow down in excise duty collection

Slow down in excise duty collection

Indirect
tax collection in June 2008 recorded a 9.2% growth compared with June
2007, includes 13% growth in custom duties followed by 5.9% growth in
excise duty.

Excise duty collection growth slow down in
April-June 2008 thanks to slowdown in manufacturing. According to the
recent IIP (index of industrial production) data, manufacturing sector
recorded 5.28% growth in April-May 2008 compared with a 11.82% growth
in April-May 2007. Excise duty collection recorded 2.8% growth in
April-June 2008 compared with April-June 2007.Custom duty collection
recorded a 20.9% growth in April-June 2008 compared with April-June
2007.

Slow down in excise duty collection will have impact on
overall revenue collection however custom duty collections continue to
be buoyant.

Indirect tax collection

At a glance	Jun-07	Jun-08	% growth	Apr-June -2007	Apr-June -2008	% change
Custom duty	8171	9236	13	23540	28459	20.9
Excise duty	9335	9889	5.9	25183	25882	2.8
Total	17506	19125	9.2	48723	54341	11.5
Rs in crore source : PIB Visit site at – http://investorline.co.in/ Newsroom - http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/