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: ACCOUNTING STANDARD :: TDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: cpt :: VAT Audit :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
Indirect Tax »
 Finance Minister Favours Cess Over Additional Tax To Compensate States Under GST
  Indirect Tax collections up
 A GST rate that can unlock India’s potential
 Why India fared badly in World Bank’s Doing Business survey
 Income Tax dept to intensify anti-black money operations
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%

Indirect tax mop-up may fall short of FY14 target
January, 02nd 2014

The government’s indirect tax collections in the current financial year ending March may fall short of the Budget target by around 280-300 bln rupees even after resorting to measures like going slow on duty drawback to exporters, a finance ministry official said.

According to revenue department’s internal projections, at the end of November, indirect tax collections were 414 bln rupees below the target, the official said.
Though the actual shortfall in collection could be in the order of 600 bln rupees, the department hopes to cut it by half through speeding up recovery of arrears, greater scrutiny, sale of confiscated goods and going slow on duty drawbacks to exporters, the official said.

“With additional resource mobilisation coming into force, the estimated gap of 600 bln rupees by March end, can be reduced by half. We are going to cross 5 trln rupees in collections normally, but after that the measures will be used to scale up collections,” the official said. The Budget had projected indirect tax collections at 5.650 trln rupees, up 20.3% from revised estimate of 4.695 trln rupees last year. -Cogencis

At the end of November, the indirect tax collections rose by 4.9% to 3.076 trln rupees.
During Apr-Nov, excise duty collections declined 5.1% to 1.036 trln rupees. The Budget had projected excise mop-up to rise 14.9% to 1.976 trln rupees in 2013-14.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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