Total revenue foregone stood at Rs 1,84,764 crore, which was 97.74 per cent of revenue from central excise, in the Financial year 2015, on account of exemptions in excise duty, according to the report on 'Indirect taxes-Central Excise' tabled in Parliament by Comptroller and Auditor General of India (CAG). It was the first time in five years that revenue forgone was less than the central excise tax figure at Rs 1,89,038 crore.
Further, the report said that a sizable amount of Rs 81,538 crore of the central excise revenue is blocked in appeals. The amount is increasing every year. Despite, a number of measures initiated by the Board, locking up of such large revenue is a matter of concern. The report also highlighted that during 2014-15, increase in central excise duty on petrol and high speed diesel resulted in increase of central excise collection from petroleum sector.
In 2013-14, the revenue forgone was at Rs 1.96 lakh crore which was 115.80 per cent of the central excise receipts; in 2012-13 the revenue was Rs 2.09 lakh crore which was 119.39 per cent; in 2011-12 it was Rs 1.95 lakh crore which was 134.98 per cent of the central excise receipts and Rs 1.92 lakh crore stood in 2010-11 which was about 139.60 per cent.