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Wednesday, November 14, 2007

India Oct Revenue From Import, Excise Taxes Up 18.6% On Year

NEW DELHI -(Dow Jones)- India's revenue from import and excise tariffs rose 18.6% on year in October to INR196.46 billion from INR165.69 billion, a Finance Ministry statement said Wednesday.
Customs import tax revenue in October rose 24.7% on year to INR93.53 billion compared with INR75.03 billion a year earlier, the statement said.
Service tax revenue in September grew 39.8% to INR49.47 billion on year compared with INR35.38 billion.
From April-October, the first seven months of the current financial year, revenue from import and excise taxes grew 11.9% on year to INR1.2 trillion compared with INR1.09 trillion.
In the same period, revenue from import tax grew 17.4% on year to INR578.33 billion, while excise collection was up 7.5% at INR649.48 billion.
The Indian government aims to collect INR5.48 trillion in revenue from import, excise and service taxes in the current fiscal year to March 31, 2008.

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