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: empanelment :: cpt :: form 3cd :: TDS :: VAT RATES :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4%
 
 
« General »
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall
 Tax exemption for ELSS will help broaden investor base, channel household savings

Commercial tax mop-up below growth target
February, 17th 2012

The growth in commercial tax collection in the state at present stands at 20%, which is way below the 30% target for the current financial year.

"Till January in fiscal 2010-11, we collected around Rs 10,000 crore. In this fiscal, we have till date collected Rs 11,800 crore, approximately," commercial taxes commissioner Binod Kumar said at a seminar organized by the Bengal Chamber of Commerce and Industry.

In the last fiscal, the collection for the full year was around Rs 13,368 crore. "The collection so far this year has witnessed a 20% growth. We are making hard efforts to achieve the target," he said at the seminar on VAT. During the budget-on-account of the state government, state finance minister Amit Mitra has envisaged that the commercial tax collection this fiscal would rise by 30%.

This year, the cash-trapped state government betted big on increased taxes on alcoholic beverages and tobacco. Sales tax on liquor sold at MRP has been raised from 23% to 27% and without MRP from 37% to 50%. The government was expecting to mop up additional resources up to Rs 200 crore from this excise hike. This year, the date of filing returns has been extended from February 15 to February 29.

The state government also opted for e-governance to boost tax revenue collection. Kumar added that the number of registrations for tax filing has increased and e-governance has played a pivotal role.

The five initiatives of e-registration are dematerialization of registration certificates, e-return under West Bengal Sales Tax Act, e-payment under industrial promotion and assistance scheme through electronic clearance systems (ECS), e-VAt refund and payment of refund through ECS and e-submission of option under composition scheme in form 18.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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