Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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
 
 
 
 
Popular Search: VAT RATES :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: cpt
 
 
General »
 Income tax department to target senior executives who have US bank accounts
 Exporters file over 10,000 applications for GST refunds
 Government wants RBI rate cut before March: Finance ministry sources
 Govt begins review of tax, other norms for startups
 Fall in tax collection compounds crisis
 Govt sets up task force to review income tax laws
 Tax queries: Contact employer to get Form 16 error rectified
 Finance Ministry may hike monetary limit for filing tax appeals
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income

Tax revenue down in first six months after prohibition
December, 07th 2016

BJP today said the claim made by Chief Minister Nitish Kumar that prohibition would have no effect on Bihar's financial health has been proved wrong as indicated by a drop of 16.23 per cent in tax revenue in the first six months of the current fiscal.

Rs 11,419 crore tax revenue was collected in the first six months in the last fiscal which has slid to Rs 9,565 crore this time, a drop by 16.23 per cent, senior BJP leader Sushil Kumar Modi said in a statement.

He said the period saw a decrease in commercial tax by 9.75 per cent vis-a-vis the same time last fiscal.

Against a target of Rs 2100 crore set by excise and prohibition department in the first two-quarters of the ongoing financial year, a meagre Rs 46 crore has come to state's kitty, he said.

The chief minister had claimed that state's revenue would have no impact after prohibition as about Rs 10,000 crore people would save after the ban on alcohol and the money would be spent on other items which would fetch revenue to the state "but CM's claims failed to show any result," he said.

Sushil Modi wondered why the state failed in tax collection when it had increased 5 per cent tax on clothes and sweets, surcharge on petrol/diesel and entry tax on a dozen items to compensate for the loss after prohibition.

The Nitish Kumar government, which proved unsuccessful in tax collection in the first two-quarters, will now make demonetisation an excuse for the drop in revenue mobilisation for rest of the period in the present fiscal, he said.

Sushil Modi, who is the leader of opposition in state legislative council, said results have been equally disappointing in collection of non-tax revenue as indicated by the slide by 10.77 per cent in mines and mineral, 11.63 per cent in agriculture and 19.77 per cent in environment department in first six months of current fiscal in comparison to the corresponding period last year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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