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: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: VAT Audit :: due date for vat payment :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: empanelment :: form 3cd :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Indirect Tax »
 How it affects long-term capital gains tax calculations
 Should you opt for 'consultant' status to lower tax outgo?
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
 E-commerce majors seek removal of tax at source on sellers
 New direct tax regime would benefit state
 Indirect tax collections increase by 16.9 per cent in January
 Tax officers to file self-appraisal report on e-assessment
 How are you saving tax this season? 10 funds saved tax & delivered 30% returns too
 Increase in taxpayer base will help bring down tax rate, says Arun Jaitley
 There is inconsistency in filing income tax, says CBDT Chairman
 Data analytics to help income tax dept catch evaders

Indirect tax collections up 14%
March, 13th 2012

Indirect tax collections in April-February 2011-12 increased 14.6 per cent to Rs 3,48,702 crore, compared with Rs 3,04,212 crore in the corresponding period of the last financial year. This is nearly 88.7 per cent of the Budget Estimate for the full financial year.

In February, these rose only 9.6 per cent to Rs 31,469 crore, against Rs 28,705 crore last year, with excise collections still the problem. The government now needs to collect about Rs 44,000 crore in March to meet its years target of Rs 3,93,000 crore.

In 2010-11, indirect tax collections were Rs 3,40,000 crore, surpassing the Budget Estimate of Rs 3,15,000 crore. In March 2011, the government had collected about Rs 58,000 crore but at the time, the economy was also growing at a higher rate.
The overall growth in indirect tax revenue collection during the month of February is 2.4 per cent higher than last months position, the finance ministry said on Friday.

The Central Board of Excise & Customs has said it expects the Budget target to be met. Among indirect taxes, central excise collections have fallen on some occasions.

In February, however, these rose merely 1.3 per cent, to Rs 12,196 crore. Overall growth during the 11-month period was 6.2 per cent higher, to Rs 1,29,926 crore.

Growth in collections from customs duty also saw some moderation. It was Rs 12,151 crore in February, an increase of 5.9 per cent over last year. During the 11-month period, these posted a rise of 12 per cent to Rs 1,36,214 crore.

On the other hand, buoyancy in service tax revenues continued, with collections showing growth of 37.3 per cent to Rs 7,122 crore during February. Over April-February, service tax collections increased 36.9 per cent to Rs 82,562 crore.

The governments revenue streams are under stress this year, due to a slowing economy, expected to grow 6.9 per cent in 2011-12, compared with 8.4 per cent last year. Direct tax collections are expected to fall short of the target of Rs 5,32,00 crore by a huge margin.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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