Indirect tax collection soars 37 pc in April-May

Indirect tax collections rose by about 37 per cent during April-May compared to the same period of the last fiscal.

“The indirect tax growth rate for the first two months of current FY is 36.7 per cent with additional revenue measures (ARM) and 14 per cent without ARM,” Revenue Secretary Hasmukh Adhia tweeted.

Indirect tax revenue include collections from excise, customs and service tax. He, however, did not provide absolute numbers of indirect tax revenue.

Finance Minister Arun Jaitley has pegged indirect tax collection target at Rs 7.78 lakh crore in 2016-17, up 9.7 per cent from Rs 7.09 lakh crore actual collections of the previous fiscal.