Monday, June 13 2005 19:20 Hrs (IST) - World Time -

New Delhi: The Finance Ministry today (Jun 13, 2005) said it collected Rs 24,643 crore through indirect taxes in the first two months of this fiscal, up 14 per cent from Rs 21,692 crore collected during the corresponding period last year (2004).

The growth is quite sharp, given around 9 per cent negative growth in the first two months of last fiscal, Central Board of Excise and Customs (CBEC) chairman A K Singh said in New Delhi.

Giving the break-up, he said collection from customs duties witnessed the maximum rise of 37 per cent at Rs 9,697 crore in the first two months, compared to Rs 7,092 crore in April and May of 2004-05.

Service tax collections grew about 12 per cent at Rs 1,891 crore against Rs 1,702 crore.

Central excise contributed to Rs 13,055 crore, up around 2 per cent from Rs 12,897 crore during the period last year.

Singh attributed marginal rise in excise duty collections to increased rate of excise duties on petroleum products in these months last year and refunds of duty drawback this year so far.

In the month of May alone, customs duties chipped in Rs 5,154 crore, up 41.72 per cent against Rs 3,636 crore in the same month last year.

Service tax collections grew by 10 per cent at Rs 954 crore in May this fiscal against Rs 867 crore in the second month of 2004-05, while excise collection was up 4.5 per cent at Rs 7,569 crore against Rs 7,273 crore.