Service tax up 40% in April; Customs up 25%

New Delhi, Jun 17 (UNI) Service Tax collections maintained their bouyancy registering a growth rate of 40 per cent y-o-y in April 2008, while Custom and Excise Duty collections together grew by 12.8 per cent upto May this year.

Custom Duty collections upto May increased by a hefty 25.1 per cent, notwithstanding the gradual lowering of tariff value overtime, but excise collection was sluggish with a growth rate of 0.9 per cent upto May this year.

The figure for Custom collections was Rs 19,223 crore upto May and that of excise Rs 15,993 crore. The combined figure stood at Rs 35,216 now crore.

Corresponding figures upto May 2007 are as follows: Customs Rs 15,369 crore ; Excise Rs 15,848 crore and Cutoms plus Excise totalled Rs 31,217 crore.

The growth rate of Custom Duty collection for May 2008 was 25.2 per cent with the figure being Rs 10,206 crore as compared to Rs 8,148 crore in May 2007.

Excise Duty collections for the month of May y-o-y was a low of 4.4 per cent with Duty collections realisation being of the order of Rs 15,993 crore as compared to Rs 9,175 crore in may 2007.

The total of Custom and Excise for the month of May was Rs 19,788 crore as compared to Rs 17,323 crore for May 2007.

Service Tax collection amounted to Rs 6,093 crore in April 2008 as compared to Rs 4,352 crore in the same month last year.

UNI MP-GS AK VC1633