Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: empanelment :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: VAT RATES :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4%
Indirect Tax »
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%
 Indirect Tax collections up
 Thank you note from income tax department
 Tax dept scanning IDS disclosures filed through post
 Poor management cause of financial pressure on Centre
 GST to have short-lived impact on inflation: RBI

Indirect tax revenue drops 2.5% to Rs 30,278 cr in Oct
November, 09th 2011

Indirect tax collections in October dropped by 2.5 percent to Rs 30,278 crore mainly on account of a slowing economy and cut in customs and excise duties on petroleum products a few months back.
Indirect tax revenue comprising customs, excise and service tax was at Rs 31,058 crore in October 2010.
Realisations from customs dropped by 11.6 percent in October to Rs 11,357 crore, from Rs 12,849 crore in the year ago period, Finance Ministry sources said.
The central excise collections dropped 5.3 percent to Rs 10,527 crore from Rs 11,120 crore in October 2010.
In June, the government had slashed customs and central excise duties to provide a relief to consumers from the hike in petrol prices that month. The cut meant an annual loss of Rs 49,000 crore to the central exchequer.
The decline in the total indirect tax collection in October would have been much sharper but for the 18.4 percent growth in realisation from service tax, the sources said.
Service tax collections during the month rose to Rs 8,394 crore from Rs 7,089 crore in October 2010.

However, during April-October period, the indirect tax collection showed 17.8 percent increase to Rs 2.01 lakh crore from Rs 1.70 lakh crore during the corresponding period in the last financial year.
The increase during the first seven months of the current fiscal was on account of higher collections from customs, central excise and service tax which rose by 16.6 percent, 10.6 percent and 33.6 percent, respectively.

During the April-October period customs collection was Rs 86,156 crore (up from Rs 73,895 crore during corresponding period of last fiscal), central excise at Rs 69,511 crore (Rs 62,838 crore) and service tax at Rs 45,391 crore (Rs 33,977 crore).
The decline in indirect tax collection during the later part of the financial year can be attributed to poor performance of the industrial sector as well as the government decision to reduce duties on petroleum goods to partly offset the impact of price hike on consumers.
Industrial production during April-August moderated to 5.6 percent from 8.7 percent during the corresponding period in 2010-11.
The government in June had reduced customs and excise duties on petroleum goods, sacrificing revenues to the tune of Rs 49,000 crore during the fiscal.
It is targetting an 18 percent year-on-year increase in indirect tax collection at Rs 3.98 lakh crore for this fiscal.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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