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  1. Excise mop up from Mumbai soars 36 per cent to Rs 15,729 crore in Q1

Excise mop up from Mumbai soars 36 per cent to Rs 15,729 crore in Q1

Central excise collection from the Mumbai Zone jumped 36 per cent to Rs 15,729 crore in the first quarter of 2016-17 from Rs 11,551 crore a year ago, a senior official said today.

By: | New Delhi | Published: July 26, 2016 9:26 PM
Central excise collection from the Mumbai Zone jumped 36 per cent to Rs 15,729 crore in the first quarter of 2016-17 from Rs 11,551 crore a year ago, a senior official said today. (Reuters) Central excise collection from the Mumbai Zone jumped 36 per cent to Rs 15,729 crore in the first quarter of 2016-17 from Rs 11,551 crore a year ago, a senior official said today. (Reuters)

Central excise collection from the Mumbai Zone jumped 36 per cent to Rs 15,729 crore in the first quarter of 2016-17 from Rs 11,551 crore a year ago, a senior official said today.

“Both the zones put together (Mumbai is divided into two Central Excise zones) have collected taxes amounting to Rs 15,729 crore during the first quarter of the current fiscal,” Chief Commissioner of Central Excise and head of the Mumbai Zones, Subhash C Varshney, told PTI here.

Varshney attributed the healthy jump in revenue collection to the massive rise in duty on diesel and petrol.

The duty on petrol during the period rose to Rs 21.48 per litre from Rs 17.46 per litre a year ago, while the same on diesel jumped to Rs 17.33 from Rs 10.26 per litre during the year-ago period.

Revenue collection from oil majors like BPCL and HPCL, which fall under Zone-II, almost doubled to Rs 8,399 crore from Rs 4,727 crore a year ago.

Giving the breakup of revenue collection from both the zones, Varshney said, “Earning from Zone-I was Rs 7,089 crore against the moving target of Rs 5,072 crore.”

Similarly, revenue collection by Zone-II during the period was Rs 8,640 crore against the moving target of Rs 6,531 crore. The zone had collected only Rs 4,792 crore in the corresponding period of the previous fiscal, he said.

Revenue payment by cement major ACC went up 43.2 per cent to Rs 284 crore from Rs 198 crore in the year-ago period.

Similarly, revenue collection from cigarette major Godfrey Phillips during the reporting quarter was up 51 per cent to Rs 165 crore from Rs 109 crore in the year-ago period.

Both the zones are gearing up to meet the revenue collection target of Rs 53,300 crore, which includes Rs 23,300 crore for Zone-I and Rs 30,000 crore for Zone-II, for the entire fiscal.

“We would like to concentrate more on recovery of arrears, detailed scrutiny of the returns and comprehensive audit of the assesses for augmenting the revenue further,” Varshney added.

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