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: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: form 3cd :: VAT Audit :: list of goods taxed at 4% :: VAT RATES :: due date for vat payment :: empanelment :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: cpt :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4%
 
 
VAT (Value Added Tax) »
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses

FM Arun Jaitley defends note ban with jump in tax numbers
January, 09th 2017

The government's tax collections were up in December 2016 bucking any impact of demonetisation with excise duty, levied at factory gate on goods, showing a growth of 31% .

Direct taxes grow by 12.01% and indirect taxes grow by 25% over the corresponding period last year April-December 2015, according to data released by the finance ministry on Monday.

Giving out the data, finance minister Arun Jaitley said: "Big picture is direct taxes are up for first three quarters and indirect taxes are up significantly".

He said this tax data is real data and not estimation and a growth of 31% in excise showed that manufacturing remained robust. Advance tax collections in December quarter stand at Rs.2.82 lakh crore, which is 14.4% higher than the figures for the corresponding period of last year. Corporate advance tax grew by 10.6% while personal income tax advance tax registered a growth of 38.2%.

Indirect tax collections (Central Excise, Service Tax and Customs) up to December 2016 showed a growth of 25% at Rs 6.30 lakh crore.

Central excise collections stood at Rs. 2.79 lakh crore during April-December, 2016 as compared to Rs.1.95 lakh crore during the corresponding period in the previous financial Year, registering a growth of 43%. Service tax during April-December, 2016 stood at Rs. 1.83 lakh crore as compared to Rs.1.48 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 23.9%.

Customs collections during April-December 2016 stood at Rs. 1.67 lakh crore as compared to Rs. 1.60 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 4.1%. During December 2016, the net indirect tax grew at the rate of 14.2% compared to corresponding month last year.

The growth rate in net collection for customs, central excise and service tax was -6.3%, 31.6% and 12.4% respectively during the month of December, 2016, compared to the corresponding month last year.

The de-growth in customs collections is largely on account of a decline of gold imports by about 46% (in volume terms) in December 2016 over December 2015, a statement said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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