SEBI Reg. Investment Advisor

Download App
Help Center Pricing
Money Works 4 Me Logo MoneyWorks4Me
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up
  1. Home
  2. Stock Market News
  3. Indirect tax collections up by 4% to Rs 1.54 lakh crore during April-July FY15

Indirect tax collections up by 4% to Rs 1.54 lakh crore during April-July FY15

20 Aug 2014 Evaluate

Indirect tax collections grew by 4.0 percent to Rs 1.54 lakh crore during April-July period of current fiscal as compared to Rs 1.48 lakh crore during the same period of previous financial year. Indirect taxes include customs duty, central excise duty and service tax.The growth, at 4 percent is far less than 25 percent annual increase envisaged in the Budget for the full 2014-15 fiscal, is mainly impacted by decline in custom duty and excise duty collections, reflecting slump in manufacturing activity.

Service tax collection grew by 16.4 percent to Rs 50,850 crore during April-July period against Rs 43,685 crore in the same period a year ago. Over the past two months, service tax collection showed significant growth as the government had introduced the concept of negative list of taxation to widen the service tax base and asked the revenue officials to focus more on service tax collection. Indirect tax collection in the month of July grew by 4.9 percent y-o-y to Rs 41,890 crore.

However, custom duty and excise duty collections declined in the reported month. Customs collection declined by 2.2 percent y-o-y to Rs 55,305 crore in April-July ’FY15, while, central excise tax collection declined by 0.4 percent y-o-y to Rs 48,195 crore during the same period. 

The Budget aims to mobilise Rs 6.23 lakh crore in 2014-15, which requires a growth rate of 25 per cent over 2013-14. Tax collection is the major source of revenue for the government. The government has estimated to garner Rs 13.64 lakh crore from both direct and indirect tax collections during the current fiscal. In the previous fiscal year, tax collections fell short of target by a whopping Rs 77,000 crore as the government collected Rs 11.58 lakh crore against the budget estimate of Rs 12.35 lakh crore. To boost the tax collection, the income-tax department has also drawn up a plan to widen the tax base by going after non-filers, using annual information returns, capturing new information sources such as under-reporting of immovable property and buyback of shares. 

Register Now to get our Free Newsletter & much more!
2026 ©The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me® is a registered trademark of The Alchemists Ark Pvt. Ltd.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×