Latest Expert Exchange Queries

Make 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) | 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: ACCOUNTING STANDARDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: due date for vat payment :: articles on VAT and GST in India :: form 3cd :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: cpt :: Central Excise rule to resale the machines to a new company
 
 
Customs and Excise »
 Allocate the charges amongst the Members of the Central Board of Excise and Customs
  Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.
 4 new members appointed in Central Board of Excise and Customs
 Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.
 Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017
 Central Board of Excise and Customs to soon notify new procedural framework
 CBEC set to be Central Board of Indirect Taxes and Customs
 Govt to give customs, excise duty benefits to boost solar rooftop sector
 Clarification regarding posting of Central Excise officer in Cigarette units-reg.
 Ensure transparency in excise department working: Bizmen to government
 It is time to review the customs duty on essential food imports

Central excise kitty falls 51% in North
December, 10th 2009

The reduction in excise duty rates as part of the Centre's stimulus package has impacted excise collections in North India, which declined 51% in the first seven months of this fiscal against the same period last year.

The total central excise collection from Punjab, Himachal Pradesh , Jammu & Kashmir and Chandigarh during the April and October period dipped to Rs 294.50 crore as compared to Rs 596.29 crore collected in the same period last fiscal.

In view of the drop, the government has revised its target of central excise collections from the region. Earlier, the government had projected to earn Rs 914.68 crore from this fiscal, as central excise tax during 2009-10. But now it has revised the target and estimates to earn Rs 492 crore.

PK Sirohi, chief commissioner for customs, central excise and service tax, Chandigarh told FE, Excise collections were mainly hit by a considerable reduction in excise duty rates as part of its stimulus packages in December 2008 and February 2009. The recession also impacted the collections.

Another major reason behind the dwindling revenue is that more than 10 large tax payer units (LTU) shifted base from Punjab, he added.

We suffered a loss of Rs 92 crore this fiscal as large units like Nestle India Ltd, ACC Ltd, Hindustan Unilever Ltd, Ranbaxy Laboratories India Ltd, PepsiCo India, GlaxoSmithkline shifted base. These firms used to bring major revenue for us. On account of their exit, we have suffered a loss of Rs 350 crore in last two years, he pointed out.

In addition, a 20% dip in the customs collections has been seen from the region. Custom collections in Chandigarh zone went down to Rs 356.67 crore as on October 2009 against Rs 448.09 crore in the same period previous fiscal.

The Central Excise Department had targeted to collect Rs 915 crore as excise from its Chandigarh zone. Only the service tax collection registered 7% rise.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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