KOLKATA: Custom revenue collection from West Bengal, Sikkim and Andaman & Nicobar Islands dropped in 2014-15 to ₹9,779 crore from ₹9,924 crore in the previous financial year. Closure of certain raw material importing industrial units and a slowdown in project import were reasons for this fall.
Gautam Ray, Chief Commissioner, customs, central excise and service tax, said on Monday that closure of operations at Haldia Petrochemicals was one of the reasons for drop in customs revenue from its naphtha import.
Mitsubishi Chemicals Corporation PTA India’s unit at Haldia also lowered its parasylene import substantially. Renuka Sugar reduced import of raw sugar from Brazil last year. “More over, project imports to West Bengal also dropped in the absence of any new project and caused a fall in customs revenue,” Ray explained.
Central excise collection in the zone, however, increased last fiscal to ₹9,290 crore (₹8,248 crore). Revenue from service tax also moved up to ₹6,005 crore (₹5,788 crore).
On the forthcoming Goods and Services Tax, Ray said though West Bengal was not ready with its own system-based assessment apparatus, it might use the GST network’s portal services for rolling outthe proposed tax regime.
“The State is likely to gain (in terms of revenue) from the GST regime once it is established”, Ray felt.
The Centre has piloted a Constitution Amendment Bill to usher in the proposed GST regime.
