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 :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TDS :: list of goods taxed at 4% :: form 3cd :: due date for vat payment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
News Headlines »
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest

'Tax collections to go up this fiscal than in 2007-08'
March, 28th 2009

The government's tax kitty will grow bigger in the current fiscal than in 2007-08 despite the duty cuts announced due to slowing down of economy, a top finance ministry official said here on Friday.

"The gross revenue from direct and indirect taxes will increase nominally this year despite the sacrifices (duty cuts) we have made," Revenue Secretary P V Bhide said at the annual session of the Confederation of Indian Industry. However, he expressed concern over the customs duty collection, which is hit by slowdown in economic activity.

"There is a cause of concern on the customs side," he said. Starting from mid-September last year, the government announced a series of cuts in excise and customs duties to stimulate the slackening economy.

The indirect tax collection is hit due to cuts in duties. In fact, the government is estimated to lose around Rs 40,475 crore in indirect taxes during the year because of these measures announced after the Budget for 2008-09.

Bhide further added that the next quarter would be tough in terms of revenue collections.

"We do see a trend, which is little disheartening and possibly suggestive of a tough quarter ahead of us," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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