Chief Economic Advisor Arvind Subramanian said April-October indirect tax collections growth was at 11.6 per cent without new measures (such as excise increases on diesel and petrol).
New Delhi: The Finance Ministry on Tuesday said the increase in indirect tax collections during first seven months of the current fiscal year reflects a healthy rise in GDP.
"April-October indirect tax growth: 35.9 per cent. And 11.6 per cent w/o new measures. Latter shows tax base-nominal GDP-growth healthy," Chief Economic Advisor Arvind Subramanian said in a tweet.
Indirect tax collections have registered an increase of almost 36 per cent in the first seven months of the current fiscal at Rs 3.83 lakh crore on spurt in economic activity.
These collections reflect additional measures like the excise increases on diesel and petrol, the increase in clean energy cess, the withdrawal of exemptions for motor vehicles, capital goods and consumer durables and the hike in service tax rates to 14 per cent from 12.36 per cent.
When stripped of all these additional measures, indirect tax collections rose 11.6 per cent during April-October.
"April-October indirect tax growth: 35.9 per cent. And 11.6 per cent w/o new measures. Latter shows tax base-nominal GDP-growth healthy," Chief Economic Advisor Arvind Subramanian said in a tweet.
Indirect tax collections have registered an increase of almost 36 per cent in the first seven months of the current fiscal at Rs 3.83 lakh crore on spurt in economic activity.
These collections reflect additional measures like the excise increases on diesel and petrol, the increase in clean energy cess, the withdrawal of exemptions for motor vehicles, capital goods and consumer durables and the hike in service tax rates to 14 per cent from 12.36 per cent.
When stripped of all these additional measures, indirect tax collections rose 11.6 per cent during April-October.
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