India’s indirect tax revenue rose 9.6% in February, with the government having now collected 88.7% of its revenue target for the fiscal year to date. The latest statistics show that indirect tax revenue collections hit INR314bn (USD6.3bn), up 9.6% on the same period last year and 2.4% on the previous month. From April 2011 to February 2012, the government collected INR3.48 trillion, up 14.6% from last year’s figure.
Central Excise tax revenue grew 1.3% in February, with overall growth to end-February at 6.2%. Service Tax revenue continues to be buoyant, increasing 37.3% over the corresponding period last year. Customs revenue rose by 5.9%, taking overall growth for the fiscal year to date to 12%.
