Tax revenue is one of the most important sources of Fund for any Government in the World. The same story is for India and Indian Government always set a huge target for Tax collection. Direct & Indirect Tax has its own peculiarities and the Tax collection growth also differ depending upon the situation. This year in the first 10 Month of FY 12 Indirect Tax collections has grown by 15% and has already reached 80% of the target set by Finance Ministry. The FY 12 target is INR 3,93,000 Crores .In the Indirect Tax segment as usual the growth of service Tax is very impressive at 36% whereas Excise growth is below 10% . However Direct Tax collection is not so good this year and has increased by just 9% till first 10 Months of FY 2012 .In the Indirect Tax collection Government was expecting 19% Growth and set a target of INR 532000 Crores. As two Months only left and INR 2, 00,000 Crores is the short fall it is not expected to reach the target.
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