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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: articles on VAT and GST in India :: VAT RATES :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT Audit :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: empanelment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: TDS
 
 
Indirect Tax »
 5 crucial ways how doing business will be different under GST
 What is the lowdown on the Goods and Services Tax
 Ineligible Input Tax Credit Under Gst Regime
 What is GST, how is it different from now: Decoding the indirect tax regime
 Indirect tax collection can fall short of FY’17 target
 GST in last lap: What's in it for businesses, firms and most importantly, you?
 Indirect tax collection: All you want to know about stuck cases and rejected appeals
 Government achieves revised tax collection target
 Keep indirect taxes 'low, affordable' under GST
 Keep indirect taxes 'low, affordable' under GST
 Education, healthcare will continue to remain out of service tax under GST

Indirect tax mop-up for April-Dec way short of target at 6.7 pct
January, 15th 2015

The Central government’s receipts from excise, customs and service tax grew by just 6.7% in the April-December period of the current fiscal, against a full-year estimate of 20% as muted manufacturing activities heavily impacted collections and service tax receipts started showing signs of contraction.

The tax department collected R3.7 lakh crore by way of indirect taxes in the first three quarters. In the month of December, the growth rate was 5.1%. The dismal growth rate indicates the department is set to miss the indirect tax collection target of R6.2 lakh crore for this fiscal.

On the direct tax side, the revenue department has managed in the April-September period to achieve close to the 15.7% growth projected for the full year.

Excise duty collections, which have adversely affected the overall indirect tax receipts, however, have started showing positive signs in December. In the April-December period, excise duty collections managed to recover from the trend of contraction and posted a 1.6% growth as manufacturing activities showed a rebound from a 7.6% contraction in October to post a 3% growth in November. Manufacturing sector had contracted 2.6% in November 2013.

In the same period, collections from customs duty grew at 9.7% to R1.3 lakh crore.

Service tax collections, which have been the fastest growing indirect tax among the three levies, have in December plunged into negative territory for the first time. Collections shrank 5.2% in December in sharp contrast to the double digit growth showed in the initial months of the fiscal. In the first three quarters, service tax growth thus averaged 8.7% to R1.1 lakh crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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