Kochi, Feb 24 (UNI) The Cochin Central Excise Commissionerate has collected Central Excise Duty to the tune of Rs 2644.49 crore and Service tax of Rs 130.88 Crore during the fiscal till last month, Commissioner P Ayyam Perumal said here today.
There was a growth of 20.73 per cent in the collection of Central Excise Duty and an increase of 43.29 per cent in the Service tax, he said and added in the last fiscal, the Central Excise duty collected was Rs 2190.32 crore and in the Service Tax it was Rs 130.88 crore.
Mr Perumal hoped to achieve Rs 3300 Crore in the Central Excise Duty and Rs 245 in the Service tax by the end of this fiscal. The target for the Commissionerate was Rs 3875 towards the Central Excise Duty and Rs 215 crore in the Service tax, he added.
He also pointed out that the major obstacle in realising the target was the shut down of a unit of the Cochin refinery, which were the major contributors, for maintenance works.
Pointing out that the Service sector had tremendous growth in the state when compared to the Manufacturing sector, he said ''the Customs and Excise duties in the state is coming down and the potentiality from the service tax is more.'' Noting that the tax from the service sector was ''the tax of the future'', he said the people had to be educated on the service tax as it was a new concept.
He said though the service tax collected was less when compared to the other parts of the country, he said ''though less, it is really a good growth.'' Noting that the Cochin Commissionerate was the largest collector of Central Excise Duty in the state, he said of the total revenue realised, the major share came from the Cochin Refinery which was to the tune of Rs 2426 crores, about 95 per cent of the revenue. The other contributors were MRF (Kottayam), Hindustan Organics and Chemicals (Ambalamughal), Hindustan Lever Ltd, HMT, FACT and Travancore Cochin Chemicals Ltd (TCC).
UNI PN VV 1814