post news network, Bhubaneswar, July14: Collection of indirect taxes in the state showed a robust growth of 34 per cent in the first quarter of the current fiscal i.e April-June 2015, by exceeding the collection during the same period last fiscal by Rs600cr, a top official of the Central Excise, Customs and Service Tax, Bhubaneswar zone said.
“The Indirect tax collection in the state exceeds by Rs600cr in the first quarter this fiscal exhibiting a growth of 34 per cent over the last fiscal in same period,” the official said.
Elaborating on the realisation of the indirect tax he said the revenue collected by the first quarter in current fiscal stands at Rs2,392cr against Rs1,792cr collected during the same period last fiscal.
He also said that the indirect tax collection in the first quarter usually exhibits stunted growth, but it has exhibited a healthy growth in the current fiscal by registering a 34 per cent growth, whereas it had reported a growth of 17 per cent in FY14-15.
“The indirect collection in the FY2013-14 stood at Rs1,531cr against the collection of Rs1,792cr in FY 2014-15, which is 17 per cent more,” he said adding that the growth of the indirect tax collection is due to the statutory clearances of the Mahanadi Coalfields Ltd. (MCL), which enhanced its performance. The company alone is leading the list of the central excise assesses by paying an excise of Rs695cr in the first quarter.
On the central excise collection, the official said it has grown by 56 per cent .The other central excise assesses topping the list for the first quarter are Bhusan Steel Ltd, Denkhanal that paid Rs98cr and Jindal Steel Plant, Angul, which has paid Rs 53cr, among others.
“Among the three wings of the indirect tax in state, the excise collection showed maximum growth of 56 per cent, which is not only for the the performance of the MCL but also because of the hike in the coal duty,” the official of the Bhubaneswar zone said. He went on to add that service tax collection has grown by 22 per cent and the customs by 5 per cent.
