INDIA: Custom revenue dips but Excise & Service tax revenue surge

NEW DELHI: The Customs revenue has been estimated to fall by Rs. 3068 crore from Rs. 56250 crore during 2004-2005 to Rs. 53182 crore in 2005-2006.

But, the receipts of Union Excise Duties and Cesses in 2005-2006 are estimated to be Rs. 121533 crore, an increase of Rs. 12334 crore over last years’ budget estimate of Rs. 109199 crore. However FM revised the estimate to Rs.  100720 crore for the last year.

Revised Estimate in respect of Service Tax for 2004-2005 is estimated at Rs. 14150 crore as against the Budget Estimate of Rs. 14150 crore. Budget Estimate for 2005-2006 is Rs. 17500 crore. On account of Education Cess, the Revised Estimate for 2004-2005 is placed at Rs. 165 crore as against the Budget Estimate of Rs. 150 crore. Budget Estimate for Education Cess for 2005-2006 is estimated at Rs. 328 crore. Receipt of Rs. 350 crore is estimated for 2005-06 on account of Service Tax on new services.

CUSTOMS:
The following is the break-up of the custom estimates.

CUSTOMS
   

(In crore of Rupees)

Budget

Revised

Budget

2004-2005

2004-2005

2005-2006

(i)

Import Duties

53715.00

55470.00

52178.00

(a) Basic Duty

33206.00

32186.00

27636.00

(b) Additional Duty of Customs(CVD)

19386.00

22110.00

23110.00

(c) Special Additional Duty of Customs(SAD)

35.00

(d) Additional Duty of Customs on Motor Spirit

2.00

(e) Additional Duty of Customs on High Speed Diesel Oil

6.00

14.00

14.00

(f) National Calamity Contingent Duty

365.00

365.00

372.00

(g) Education Cess

750.00

760.00

1046.00

(ii)

Cesses on Exports

180.00

165.00

208.00

(iii)

Other Receipts

355.00

615.00

796.00

 

Total

54250.00

56250.00

53182.00

UNION EXCISE DUTIES:
The following table summarises the position of excise revenue.

UNION EXCISE DUTIES
   

(In crore of Rupees)

Budget 2004-2005

Revised
2004-2005

Budget
2005-2006

1.

(a) Basic and Special Excise Duties other than (b) and (c )

80526.00

71825.00

86901.00

(b) Cess on Motor Spirit

1648.00

1758.00

2434.00

(c ) Cess on High Speed Diesel Oil

6634.00

7399.00

9948.00

2.

Additional duties on textiles and textile articles

451.00

100.00

….

3.

Additional Excise Duties in lieu of sales tax

3106.00

2933.00

3117.00

4.

National Calamity Contingent Duty

1769.00

1675.00

1843.00

5.

Surcharge on Petrol

6592.00

7032.00

7302.00

6.

Surcharge on Pan Masala and Tobacco Products

700.00

7.

Cesses administered by

(i) Department of Revenue

(a) Additional Duty of Excise on Tea

80.00

69.00

(b) Education Cess

1500.00

1556.00

2198.00

(c) By Department of Revenue excluding (a), (b)

6194.00

5653.00

6325.00

Total (a+b+c)

7774.00

7278.00

8523.00

(ii) By other Departments

699.00

720.00

765.00

Total Cess (i+ii)

8473.00

7998.00

9288.00

Total

109199.00

100720.00

121533.00

SERVICE TAX:
The following is the break-up of the Service Tax estimates:

SERVICE TAX

(In crore of Rupees)

Budget
2004-2005

Revised
2004-2005

Budget
2005-2006

1.

Telephone

3518.00

4470.00

5186.00

2.

Insurance

1278.00

1399.00

1623.00

3.

Brokerage

307.00

679.00

788.00

4.

Banking and other Financial Service

377.00

606.00

703.00

5.

Courier

280.00

543.00

630.00

6.

Port Service

441.00

526.00

610.00

7.

Insurance Auxilliary w.r.t. to life Insurance

394.00

491.00

549.00

8.

Consulting Engineer Service

345.00

441.00

490.00

9.

Broadcasting Service

219.00

300.00

479.00

10.

Business Auxilliary Service

95.00

268.00

436.00

11.

Insurance Auxilliary Service

335.00

369.00

408.00

12.

Management Consultant Service

151.00

311.00

346.00

13

Chartered Accountant Service

140.00

303.00

334.00

14.

Advertising

277.00

278.00

309.00

15.

Maintenance or Repair

173.00

249.00

277.00

16.

Security/Detective Agency Service

147.00

185.00

206.00

17.

Authorized service station for motor car, etc.

97.00

130.00

203.00

18.

Clearing & Forwarding Agent Service

143.00

157.00

174.00

19.

Online Information & Database Access Service

84.00

133.00

148.00

20.

Leased Circuit Service

95.00

127.00

141.00

21.

Air Travel Agent Service

107.00

124.00

137.00

22.

Commercial training or coaching

57.00

101.00

112.00

23.

Other Services

4940.00

1795.00

2533.00

24.

New Services

350.00

25.

Education Cess

150.00

165.00

328.00

Total

14150.00

14150.00

17500.00

Source: BharatTextile.com


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Added: February 28, 2005
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