Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT Audit :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: empanelment
 
 
Indirect Tax »
 Indirect Tax Collection Under Gst Goes Down By 30 Percent
 What is a belated income tax return and what are its consequences
 Why rejig of financial year could upset your tax planning
 The threat of harsh penalty should not impede tax compliance
 What are the tax exemption limits for allowances, reimbursements paid to employees? Find out
 High-income taxpayers to get priority treatment and extra facilities
 GST input tax credit rules: How taxpayers will benefit from ITC
 More complications in filing income tax returns
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018
 CBDT asks Income Tax officials to pull their socks up as revenue collection not satisfactory
 Nearly 15 pct growth in direct tax collections for fiscal 2017-18

Fiscal deficit jumps in H1 on lower tax collection
November, 01st 2011

The Government's fiscal deficit in the just ended first six months has exceeded 70 per cent of the Budget target, according to the Controller General of Accounts (CGA).

The data also show a massive revenue shortfall. Only 36.6 per cent of the budgeted tax revenue and 40.5 per cent of the non-tax revenue have been achieved in the first six months.

Non-tax revenue includes income from disinvestment and auction of spectrum.

Meanwhile, 51.6 per cent of the Budget estimate for non-Plan expenditure has been exhausted.

Non-Plan expenditure involves, besides others, interest payment and subsidy payout.

But the Government has not given up hope. A senior government official said that indirect tax revenue is expected to grow at higher rate during the second half of this fiscal.

There could also be some disinvestment, he added.

Mr D. K. Joshi, Chief Economist, Crisil, said that the CGA records the payments received and expenditure made only up to the last working day of the month, while a part of tax payment is made during the following month. So, there will always be a gap between the actual and CGA's numbers, he said.

Even so Mr Joshi did not rule out fiscal slippage. Crisil has estimated that the fiscal deficit could reach 5.2 per cent of the gross domestic product (GDP).
 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions