Daijiworld Media Network – Bengaluru (MS)
Bengaluru, Mar 22: The estimated state excise collection that the state government expected in the present fiscal is increased by Rs 3000 crore one month before the end of the financial year.
The government expected to raise Rs 29000 crore tax in the fiscal 2022-23. Till the end of February, the government was aiming at the same target. However, now the excise department has suddenly increased the revenue to Rs 32000 crores. The reason for this is that the tax has already crossed Rs 27000 crore towards the end of February. Generally, in the last month, the excise tax collected will be higher than other months. Based on the same assumption the bar is raised according to the senior officials of excise department.
During last fiscal, which was affected by Covid, though the government expected to raise Rs 24580 crore excise tax, the actually collected was Rs 26377 crore. This year the collected amount is Rs 27032 crore till the end of February.