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 :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: cpt :: VAT RATES :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
« Indirect Tax »
  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 collections up

Duty cuts, slowdown impact govt indirect tax kitty
February, 20th 2009

The government on Thursday said excise duty cuts announced in the last years Budget and slowdown in some sectors have affected the indirect tax collections in this fiscal year.

Central excise duty rates were reduced in the Budget 2008 ... These reductions along with some slowdown in specific sectors affected the revenue (indirect tax) collections, minister of state for finance S S Palanimanickam said in a written reply in the Rajya Sabha.

He added that central excise duty rates on motor spirit and high speed diesel oil were also reduced subsequent to Budget, which could have effected the collections.

However, the minister pointed out that a number of administrative steps has been taken by the government to plug loopholes in law procedures and improve revenue position and data collection and analysis, audit and anti-evasion measures.

Replying to another question on duty evasion in the export-oriented units (EOU), he said that persuasive action is being taken by the government to receive duties along with initiation of penal proceedings.

The duties evaded by EOUs, in fact, have doubled to Rs257.6 crore in 2007-08 compared to Rs128.8 crore in the previous year, he said.

However, he added that the range officers regularly visit the EOUs for verification of duty free capital goods, raw materials and others.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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