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: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: VAT Audit :: cpt :: form 3cd :: TDS :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT RATES
 
 
« Indirect Tax »
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
 E-commerce majors seek removal of tax at source on sellers
 New direct tax regime would benefit state
 Indirect tax collections increase by 16.9 per cent in January
 Tax officers to file self-appraisal report on e-assessment
 How are you saving tax this season? 10 funds saved tax & delivered 30% returns too
 Increase in taxpayer base will help bring down tax rate, says Arun Jaitley
 There is inconsistency in filing income tax, says CBDT Chairman
 Data analytics to help income tax dept catch evaders
 Tax officers to maintain digital records of summons, notices
 DIRECTOR OF INCOME TAX Vs. LUFTHANSA GERMAN AIRLINES

Indirect tax collection target challenging but achievable: Finance Minister Arun Jaitley
November, 21st 2014

Finance Minister Arun Jaitley today said Rs 6.23 lakh crore indirect taxes collection target for the current fiscal is a challenging one but efforts are on to achieve the same by taking steps to boost growth.

"The revenue targets in the case of indirect taxes for the current financial year 2014-15 are challenging one but are very much achievable. The revenue targets for indirect taxes for the current financial year is fixed at Rs 6,23,244 crore, with an overall growth rate of more than 25 per cent," he said here.

In order to spur the growth, he said, the government has in the past few months concentrated on improving areas of manufacturing and infrastructure.

"Last few years have been somewhat difficult as far as the Indian economy is concerned. In last few years when you had modest growth rate, they were coupled with either a static or negative growth rate especially in manufacturing, as a result some of the indirect taxes took the hit," he said while addressing Chief Commissioners and Directors General of Customs, Central Excise and Service Tax here.

However, the government has taken a series of measures in the past two months both inside and outside the budget process in this direction to boost the performance of these sectors.

Figures relating to manufacturing sector in the months of June and July this year are quite encouraging, he said, adding if this trend continues for a few more months only then it will constitute a pattern.

Highlighting that the government is in favour of trade facilitation, he said, efficient trade facilitation leads to substantial reduction in transactional cost for the businesses.

With respect to trade facilitation in taxation, he said a large number of irritants which had been created particularly in the tax administration, have been consciously addressed.

He emphasised that trade facilitation will not only bring ease in doing business in the country but will also reduce the cost of doing business.

The Finance Minister asked the senior officers of the Central Board of Excise and Customs ( CBEC) to work as a facilitator for tax payers and at the same time take action wherever they find cases of revenue leakages or tax evasion.

The cost of tax collection, both in case of direct and indirect taxes in our country, is not very high and further investment in strengthening the tax infrastructure in the country will bring better returns to the exchequer of the government, he said.

The minister also laid emphasis upon reducing tax litigation and tax settlement mechanism to unlock the money held up due to litigation.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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