Arun Jaitley: Overall increase in indirect tax collection from April to Dec ‘16

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New Delhi, Jan 9: Finance Minister Arun Jaitley while addressing media in Delhi said that since there has been a considerable debate as to the impact of currency squeeze in November and December, the revenue data become relevant. He said that the indirect taxes collected for the month of April to Dec '16 compared to same figures last year is up by 25%.

Finance Minister was quick to add that the currency squeeze in November and December has failed to hit revenue mop up and from April to December this year the increase in direct tax is 12.01% compared to last year. With regards to central excise he said it increased 31.6% in December 2016 as compared to December 2015.

Arun Jaitley: Overall increase in indirect tax collection from April to Dec ‘16

Customs duty as per FM in December 2016 compared to last December, had declined by 6.3% and collection of indirect tax compared to November 2016 was up by 12.8% in December 2016.

Jaitley also informed media that collection of direct taxes for the first three quarters had moved up while indirect taxes significantly moved up. He also added that for most States VAT collections have increased.

When quizzed by edia on petrol pump transaction fee FM said, "We are discussing the issue and have asked Secretary DEA to discuss issue with banks. Petroleum Ministry is also in touch regarding this issue.

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