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
Latest Expert Exchange
« Indirect Tax »
 CBDT notifies new I-T return forms
 Here are the key changes in tax rules to come into effect from today
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
 All education loans do not get income tax benefits
 FM Arun Jaitley to focus on direct and indirect taxes
 Income Tax For Individuals – Assessment Year 2019–20
 States set separate dates to implement e-way bill
 What are direct and indirect taxes?
 Indirect transfer conundrum continues
 We expect significant changes in income tax slabs, say taxpayers

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 2018 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