Central Excise Collections Surpasses Target In Visakhapatnam

Visakhapatnam: The central excise, customs and service tax collections in Visakhapatnam zone during 2006-07 exceeded the aim and recorded 16 per cent growth over the previous year. The target fixed for the zone comprising 13 revenue districts of coastal Andhra and Rayalaseema was Rs 9,910 crore and the actual collection was Rs 10,189 crore - Rs 7,026 crore in central excise tax, Rs 2,700 crore in customs revenue and Rs 463 crore in service tax. During the previous year (2005-06), the total revenue under the three heads was Rs 8,756 crore. In the current budget the Union Government had made e-payment mandatory for all assessees paying tax above Rs 50 lakh.