The Hindu Business Line : Excise collections record sluggish growth in Aug

New Delhi, Sept. 13 Excise duty revenues continue to be a bugbear for the Government, with collections in August recording a meagre growth of 1.2 per cent, lower than the 9 per cent year-on-year growth registered in August last year.

Data released by the Central Board of Excise and Customs pegged excise duty collections during August at Rs 10,013 crore (Rs 9,898 crore). For the April-August period, excise duty collections grew 3.7 per cent at Rs 46,122 crore (Rs 44,469 crore). The Centre’s excise duty collections had increased by 8.9 per cent on a year-on-year basis to Rs 10,013 crore in July.

Historically, the first half of the financial year showed sluggish growth rate in excise duty collections. To plug excise duty leakage, the Centre has started a number of initiatives, including high-impact audits. It has also tightened oversight on certain sectors that are prone to excise duty evasion.

Customs duty revenues, which have been quite buoyant, also saw some moderation in growth in August, with collections recording a year-on-year growth of 8.9 per cent, lower than the 17.46 per cent year-on-year growth seen in August 2007. The customs duty collections in August stood at Rs 9.484 crore (Rs 8,713 crore). In April-August, customs duty collections stood at Rs 47,734 crore (Rs 40,505 crore).

Service tax collections during April-July stood at Rs 18,787 crore, which represents 24.9 per cent increase over the revenues of Rs 15,043 crore collected in the same period last year. In July, the service tax collections stood at Rs 3,876 crore (Rs 3,543 crore).

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