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: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARD :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: form 3cd
 
 
VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

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