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
« Indirect Tax »
 How much tax do you need to pay for your equity investments?
 Income Tax Department proposes new norms for taxing MNCs in India
 Can you claim tax benefit for tax paid on insurance premium? a
 Top 30 Income Tax Judgments in 2018
 Urban Development and Housing Department, Chakradharpur, Jharkhand
 National Rural Health Mission, Faridabad - Haryana
  Govt fails to release exporters’ pending sales tax refund claims
 Govt fails to release exporters’ pending sales tax refund claims
 How is dividend income taxed Here’s all you need to know
 How is dividend income taxed Here’s all you need to know
 How is dividend income taxed Here’s all you need to know

Government may miss indirect tax collection target in FY'15
December, 01st 2014

Indirect tax collection may fall short of the annual target by an estimated Rs 90,000 crore in the current fiscal, mainly because of subdued industrial activities, a senior finance ministry official has said.

The revenue target for indirect taxes for the current financial year is Rs 6.23 lakh crore, projecting a growth rate of about 25 per cent. Indirect tax revenues rose marginally by 5.6 per cent in the April-October period to over Rs 2.85 lakh crore. Excise collection, which is an indication of economic activity, declined by 1.2 per cent to Rs 88,330 crore during this seven-month period of the ongoing fiscal.

On the other hand, service tax collection increased 10.9 per cent to Rs 90,673 crore and the mop up from customs rose 7.5 per cent to over Rs 1.06 lakh crore in April-October. Economic growth, after remaining at sub-5 per cent in last two financial years, is estimated to be between 5.4-5.9 per cent in 2014-15. During the April-September period of 2014-15, industrial output growth as measured by Index of Industrial Production (IIP) grew at 2.8 per cent.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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