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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Indirect Tax »
 CBDT notifies new I-T return forms
 Here are the key changes in tax rules to come into effect from today
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
 All education loans do not get income tax benefits
 FM Arun Jaitley to focus on direct and indirect taxes
 Income Tax For Individuals – Assessment Year 2019–20
 States set separate dates to implement e-way bill
 What are direct and indirect taxes?
 Indirect transfer conundrum continues
 We expect significant changes in income tax slabs, say taxpayers

Indirect tax collection surges 42% in Odisha
April, 07th 2016

Indirect tax collection in Odisha saw a spike of 42 per cent in 2015-16 to reach Rs 11,948 crore, fuelled by contributions from corporates, a pointer to improving industrial sentiment in the state.

Actual collection surpassed the target of Rs 11,420 crore set for FY16. In 2014-15, indirect tax collection stood at Rs 8,405 crore.

Central excise collection touched Rs 6,936 crore against the target of Rs 6,800 crore fixed for the last financial year for the Bhubaneswar zone. The collection has surpassed the 2014-15 figure by Rs 2,276 crore, posting a growth of 49 per cent.

"Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd (CIL) is the leader in the central excise collection bracket. The hike in coal cess to Rs 400 per tonne has led to surge in realization. MCL has paid Rs 3,466.18 crore in the last financial year as central excise duty", said an official.

Steel major Rourkela Steel Plant (RSP), a unit of Steel Authority of India Ltd (Rs 446.49 crore), Bhushan Steel ( Rs 536.05 crore) and JSPL (Rs 180.98 crore) are the leading contributors to the indirect tax kitty.

Similarly, the customs duty collection is also up by 45 per cent to Rs 2,727 crore in 2015-16 compared to the previous financial year. The revenue realization is Rs 851 crore more than that of 2014-15.

"Steel industries importing more iron ore and met coke has boosted collection. During the period under review, Indian Oil Corporation Ltd, which commissioned its refinery at Paradip, imported crude oil, contributing to the surge in realization of customs duty", added the official.

Service tax collection has also soared in the last financial year. The collection was Rs 2,285 crore against the target of Rs 2,320 crore fixed for the current financial year. It is up by 22 per cent from Rs 1,869 crore realized up to March 2015. Defence PSU Hindustan Aeronautics Limited (HAL) has paid Rs 127.47 crore in the last financial year followed by Paradip Port Trust (PPT), country's second major port in cargo handling, contributing Rs 108.65 crore to the service tax bracket.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

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