« Indirect Tax » Open DEMAT Account in 24 hrs  When will ITR1 forms become available for tax filing. Check details  How to reduce tax on rent from vacant houses  Make sure to claim these tax deductions  Investment tips for those opting for new tax regime  Indirect tax dept issues notices to companies over late input credit claim under GST frame  E-generated document required for indirect tax notices  FinMin seeks industry inputs on direct, indirect tax changes  Govt gives businesses four months to settle indirect tax disputes  ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return  No income tax on interest from accident compensation: High Court  How much tax do you need to pay for your equity investments? «  India to meet 2008-09 indirect tax goals: Chidambaram... India should meet '08/09 indirect tax goals - Chidambaram... » Govt. shall hit indirect tax target, affirms FM May, 31st 2008 Finance Minister P Chidambaram Thursday in New Delhi expressed confidence that the government would meet its target on indirect taxes for the current fiscal. Briefing media persons about a two-day All India Conference of Chief Commissioners and Director Generals of Customs, Excise and Service Tax, he said that a third party information system of collating data was being devised for better monitoring of returns relating to indirect taxes. Mr Chidambaram said that so far returns on Value Added Tax (VAT) are used to synchronize details on indirect taxes provided by an assessee. Now the usage of electricity and bills relating to this would also be used for the purpose. He said the new system relating to Indirect taxes would be on the same lines of Annual Information Report (AIR) relating to Income Tax filing. The Finance Minister projected the customs growth for 2008-09 at 14.4%, excise growth at 8.8% and service tax at 26.1%. AIR correspondent reports that the conference which began in the morning will review the performance of the Central Board of Excise and Customs, in such key areas as revenue collection, enforcement, trade facilitation, opportunities and challenges before the department. It will also deliberate upon measures to raise compliance level in Service Tax as well as issues relating to SEZs.