INDIRECT TAX

1. The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to November 2016 show that net revenue collections are at ₹ 5.52 lakh crore, which is 26.2% more than the net collections for the corresponding period last year. Till November 2016, 71.1% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved.

2. As regards Central Excise, net tax collections stood at ₹ 2.43 lakh crore during April-November, 2016 as compared to ₹ 1.69 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 43.5%.

3. Net Tax collections on account of Service Tax during April-November, 2016 stood at ₹ 1.60 lakh crore as compared to ₹ 1.27 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 25.7%.

4. Net Tax collections on account of Customs during April-November 2016 stood at ₹ 1.48 lakh crore as compared to ₹ 1.40 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 5.6%.

5. During November 2016, the net indirect tax (with ARM) grew at the rate of 23.1% compared to corresponding month last year. The growth rate in net collection for Customs, Central Excise and Service Tax was 16.1%, 33.7% and 15.5% respectively during the month of November, 2016, compared to the corresponding month last year. However, the total indirect tax collection (with ARM) for the month of November 2016 showed a decline of 13.9% over October 2016 figures.

6. The net indirect tax collection up-to November, 2016 shows a growth of 26.2% (with ARM) and 8.0% (without ARM) over the corresponding period of previous year.

 This growth rate up-to October, 2016 was 26.7% (with ARM) and 8.0 % (without ARM).

7. The month-wise cumulative indirect tax growth trends (without ARM) in FY 2016-17 is shown below.

Indirect tax collections rose 26.2% year on year to Rs.5.52 lakh crore, with mixed monthly and component trends. Aggregate revenue data shows net indirect tax collections of Rs. 5.52 lakh crore for April-November 2016, a 26.2% year-on-year increase and 71.1% of the FY 2016-17 Budget Estimate. Central Excise collected Rs. 2.43 lakh crore (43.5% growth), Service Tax Rs. 1.60 lakh crore (25.7% growth), and Customs Rs. 1.48 lakh crore (5.6% growth). Cumulative growth up to November is 26.2% with ARM and 8.0% without ARM, with November showing a 23.1% year-on-year rise but a 13.9% decline from October.