Latest Expert Exchange Queries

Make 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) | 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 :: list of goods taxed at 4% :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT RATES :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company
 
 
Budget Extravaganza »
 How presenting the Budget early seems to be paying off already
 Budget advancement helps Centre, states start spending early
 Five things that you can expect from the Mumbai civic budget today
 GST all set for July 1 rollout but casts shadow on state budgets
 Income-Tax collection revised in Rajasthan budget
 No new taxes likely in Maharashtra Budget
 H.P. budget devoid of any financial prudence
 GST, demonetisation todecide budget priorities
 Railways to come up with mini-budget tomorrow
 Budget today, but GST kills the tax suspense
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes

Indirect tax collections to fall short of Budget estimates
February, 25th 2010

Amid speculations of partial roll back of stimulus in the upcoming Budget, a key finance ministry official said the government's kitty from indirect tax collections will fall short of the projected figures for this fiscal.

"There will be some shortfall (in meeting budget estimates of indirect tax collections)," a Central Board of Excise and Customs (CBEC) official said on the sidelines of Excise Day function here.

However, he declined to give any further details, ahead of the Budget to be presented on Friday.

Indirect tax collections came under heavy impact as the government cut excise duty by 6 per cent, service tax by 2 per cent in phases since December, 2008 to provide stimulus to the slowing down economy.

As such, indirect tax kitty declined sharply by 12.42 per cent to revised estimates of Rs 2.81 lakh crore last fiscal against Budget estimates of Rs 3.21 lakh crore.

For this fiscal, Budget estimates were even lowered to Rs 2.69 lakh crore. Even these estimates seem to be missed when the current fiscal ends.

The government's indirect tax kitty has been able to net just Rs 1,89,000 crore up to January this fiscal, which means around Rs 80,000 crore is required to be collected in the remaining two months, which seems almost impossible.

Speculations are rife that stimulus may be partially rolled back to fetch revenues to the Government and narrow down fiscal deficit, estimated to be 6.8 per cent of GDP this fiscal.

 
 
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