Excise mop up from Mumbai soars 36% 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. “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.
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.”
Revenue payment by cement major ACCBSE 0.25 % went up 43.2 per cent to Rs 284 crore from Rs 198 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.