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% :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: due date for vat payment :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: TDS :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
 
 
« 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 rise after tough talking
March, 14th 2013

Stern warnings to tax defaulters seem to have hit the target. The indirect tax collection in February grew significantly as compared to January with service tax showing an impressive jump of 44 per cent month-on-month while the customs duty collection rose 31 per cent, a government official told The Indian Express.

The service tax collection during February stood at Rs 10,453 crore as against Rs 7,255 crore in January, a rise of 44 per cent, while the customs duty collection stood at Rs 15,007 crore during the month as against Rs 11,406 crore in January.

"We have though been following non-adversarial approach but we are acting sternly against defaulters. We have been issuing warnings and have been urging the assessees to make timely and correct payment of customs and excise duty and service tax. This has started yielding results now," the official said.

The numbers are still adrift of the annual target which is Rs 1,32,697 crore for the year. At the end of February the target for service tax collection is still about 21 per cent short. Faced with a stiff target of revenue collection, the finance ministry has been asking all tax assessees to pay their taxes correctly and clear all their dues to avail of reduced penalty. In January, revenue secretary Sumit Bose had said that many assessees continue to indulge in under invoicing of imports and over invoicing of exports apart from misdeclaration of goods. He had warned that it is not difficult for the tax authorities to reach them who are evading tax payments.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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