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
« General »
 Seeks to amend BCD rates on certain textile goods.
 Common mistakes to avoid while filing your Income Tax Returns
 Income Tax Return filing season is here – Check top tricks to save money
 What is Income Tax Clearance Certificate? For whom is it a must?
 Don’t forget to mention these small things while filing income tax returns
 Wondering about your eligibility to file Income Tax Return?Read on
 Income Tax Return filing: How to link Aadhaar number with PAN card?
 India notifies rules for income tax computation for foreign firms
 How to save income tax by rejigging your salary
 How to fill tax exempt income and bank details section in ITR1
 Interest income from an NRO account is fully taxable in India

Government confident of meeting fiscal deficit, tax revenue targets
April, 04th 2018

The government is on its way to achieve the revenue collection and fiscal deficit targets for 2017-18.

While announcing the latest GST and direct tax collection figures, Revenue Secretary Hasmukh Adhia said in a press briefing that the government would not only stick to the 3.5 per cent fiscal deficit target but also the revised tax revenue collection figures for 2017-18.

The government's confidence comes from the direct tax collection figures with the provisional net Direct Tax collections showed a 17.1 per cent jump to Rs.9.95 lakh crore. This is 101.5 per cent of the budget estimates of Rs 9.8 lakh crore and 99 per cent of the revised estimates Rs 10.05 lakh crore.

Central Board of Direct Taxation (CBDT) chairman Sushil Chandra said that they are confident of achieving the revised estimates as well.

The GST collection figure for February has also shown a jump from the previously announced Rs 86,000 crore till March 25. The revenue secretary informed the media that in the last 6 days of March, additional Rs 3,000 crore were collected from taxpayers.

The GST collection figure for February now stands at Rs 89,264 crore. Overall in the eight months since July, the government has collected Rs 7.17 lakh crore in GST averaging Rs 89,700 crore a month.

The revenue secretary said that they are confident of achieving the revised GST target for 2017-18 as well. In future, with e-way bill and other anti-evasion mechanism in place, Adhia said that the GST collection would only go up.

Meanwhile, the inter-state e-way bill which came into effect from 1 April is functioning smoothly without any major glitches, said the revenue secretary. He informed that on first day, total 2.59 lakh e-way Bills were generated on the e-way bill portal. Till 3:00 pm on Monday, 2.89 lakh e-way bills were been generated. A total of 11.18 lakh taxpayers have registered on e-Way Bill Portal till date.

The first set of states would implement the intra-state e-way bill from 15 April.

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

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