Indirect tax collection leads Budget target: Chidambaram

New Delhi, Aug 31 (UNI) Expressing satisfaction over the current tax collection figures, Finance Minister P Chidambaram today said if conditions remain consistent, the Ministry would definitely achieve its Budget targets.

On last year's low tax collection, he said, Finance Ministry is keeping an eye on the CENVAT Credit, and would give special attention to it while auditing.

After inaugurating the All India Conference of Excise, Custom and Service Taxes' Chief Commissioners, the Finance Minister told reporters that in the first four months of current fiscal the collection of Custom Tax had increased by 33.5 per cent over the last year while Excise Tax collection rose to 8.8 per cent and Services Tax to 63.4 per cent.

Whereas, an increase of 18.1 per cent in Custom, 6.5 in Excise and 43.5 in Service taxes was set as the annual target in the Budget, he said.

As per these figures, he said, department would definitely achieve the target set for the indirect taxes.

For the current fiscal, target of Rs 229,533 crore was set for the revenue through indirect taxes.

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