With the rise of growth in economic activity in the country, indirect tax collection has gone up by 35.8 per cent to over Rs3.24 lakh crore in the first half of the current fiscal.
Indirect tax collection in the April-September period of the last fiscal, 2014-15, was about Rs2.38 lakh crore. The growth rate in collection during the first half of 2015-16 is double the budget requirement of 18.8 per cent for the full fiscal.
According to the sources, the growth numbers in the indirect taxes have been contributed by excise duty collection which grew 69.6 per cent during the period.
Excise collection during April-September 2015-16 was over Rs1.25 lakh crore, as against Rs74,019 crore in the same period last fiscal. Customs mop up grew 17.5 per cent to over Rs1.03 lakh crore during the six months. Service tax revenue grew 24.3 per cent to Rs95,493 crore.