Image default
Uncategorized

Government exceeds indirect tax collection estimates

The government has marginally exceeded the indirect tax collection target for fiscal 2025-26, an official said on Thursday. The total indirect tax collection, which includes customs, excise and GST, as per Revised Estimates (RE), was pegged at over Rs 15.52 lakh crore for FY26.

This includes Rs 2.58 lakh crore from customs duty, Rs 3.38 lakh crore from excise duty, and Rs 9.58 lakh crore from Central Goods and Services Tax (CGST). Without giving actual figures, the official said revenues from customs duty came in at 102 per cent of RE, while in case of excise duty it was 101 per cent of RE. The Central GST collection came in at 100.8 per cent of RE for FY26. “Overall, GST plus non-GST collection came in at 101.2 per cent of RE,” the official said. However, the collection from health and national security cess, which is levied on pan masala manufacturing, has missed the target.

Related posts

Stock market advances in early deals on fresh foreign fund inflows, India-US trade pact

Sandra S. Miller

Republic Day long weekend drives surge in travel, hotel bookings

Sandra S. Miller

Stock markets decline 2 pc in early trade amid rising tensions in West Asia, surge in crude oil price

Sandra S. Miller