Excise & Custom Dept collects Rs 5900.98 cr Tax in BBSR

The Central Excise, Customs and Service Tax Department, Bhubaneswar Zone has collected indirect tax to the tune of Rs. 5900.98 crore till December 2014. The Zone has achieved 58.08 per cent of the target collection of Rs.10, 160 crores set for the year 2014-15. In 20013-14, the department has collected Rs.8032.81 crore of indirect tax, according to government release.

The overall growth of revenue up to the month of December in all three heads – Central Excise, Customs and Service Tax is 4.67%. (The total collection upto December 2014 is Rs.5900.98 crore as against Rs. 5637.33 crore upto December last financial year).

The growth in Central Excise upto the month of December is 51.52 %. (The Central Excise Collection up to December 2014 is Rs.3196.97 crore as against Rs.2110 crore upto December last financial year).

The growth in Customs up to the month of December is -41.31% (The Customs duty Collection up to December 2014 is Rs.1353.76 crore as against Rs.2306.81 coror up to December last financial year).

The growth in Service Tax upto the month of December is 11 %.( The Service Tax upto December 2014 is Rs. 1350.25 crore as against Rs.1220.52 crore upto December last financial year).

The main reason for negative growth rate in Customs is because of the less export of iron ore from the ports in Odisha due to the closure of mines. The shortfall on account of export is to the tune of Rs. 700 crore up to the month of December.