Revenue collection up by 20 pc

The government's revenue collection has increased by 20.33 percent, reaching Rs. 154.59 billion during the first seven months of the current fiscal year 2012/13 compared to the same period last year.

The Ministry of Finance (MoF) said Monday that the government has collected Rs. 31.67 billion as customs duty, Rs. 47.08 billion as Value Added Tax (VAT), Rs. 34.57 billion as income tax, Rs. 20.16 billion as excise duty and Rs. 16.67 billion as non-tax, Rs. 4.24 billion as registration duty and vehicle tax and Rs. 178.7 million as education service tax.

The custom duty has increased by 38.87 percent, VAT by 18.06 percent, excise duty by 19.65 percent, non-tax by 8.83 percent, education service tax by 48.66 percent and income tax by 31.89 percent compared to the last fiscal year.

However, the registration duty and vehicle tax plunged by 1.42 percent during the period compared to the same period last fiscal year. Nepalnews.com