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: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: empanelment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: form 3cd :: due date for vat payment :: TDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India
 
 
« Indirect Tax »
 How it affects long-term capital gains tax calculations
 Should you opt for 'consultant' status to lower tax outgo?
 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

Indirect tax revenue keeps slowdown fears alive
November, 13th 2014

Indirect tax revenue rose 7.5 per cent to Rs 44,384 crore in October from Rs 41,290 crore in the corresponding month a year ago, indicating woes of economic slowdown might not be over yet.

Customs, excise and service tax collection increased 5.6 per cent to Rs 2.85 lakh-crore in the first seven months of 2014-15 from Rs 2.69 lakh-crore in the corresponding period a year ago. Indirect tax collection so far is 45.7 per cent of the Budget estimate of Rs 6.23 lakh-crore. This has widened the fiscal deficit to 83 per cent of the Budget estimate.

Finance Minister Arun Jaitley had said meeting the indirect tax collection target will be a challenge unless economic growth revives. The government has targeted 20 per cent growth in indirect tax collection in 2014-15 from Rs 5.19 lakh-crore in the revised estimate for the previous year.

The growth in indirect tax revenue in the first seven months of the year is similar to the 5.3 per cent growth in the corresponding period of 2013-14, when collections fell 8.04 per cent short of the Rs 5.65-lakh -crore Budget estimate.

Customs collection grew 19.5 per cent to Rs 16,800 crore in October on high imports and softening crude oil prices. In September, the trade deficit had doubled because of a phenomenal rise in gold imports, which draw 10 per cent Customs duty.

Excise collection grew 1.4 per cent to Rs 14,169 crore in October because manufacturing might not have revived adequately in the festival month. Services tax collection also rose 1.2 per cent to Rs 13,415 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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