Excise Revenue Collections Fell By 8.7% In Period - Nov 12, 2008

In another sign of sharp deceleration, India's excise duty collections fell by 8.7% to Rs 9399 crore in October 2008. Customs duty collections also eased by 0.9% to 9265 crore during this period. As a result, the total customs and excise duty collections fell by 5% to Rs 18664 crore in October 2008.In the seven months ended October 2008, our customs duty collection zoomed by 15.2% to Rs 66621 crore, but excise duty collections inched up by only 0.6% to Rs 65322 crore.

During this period, the total customs and excise duty collections grew by 7.5% to Rs 131943 crore.Service tax collections grew by 18% to Rs 4752 crore in September 2008, and by impressive 28.7% to Rs 29867 crore in the first half of the current fiscal.