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: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: form 3cd :: articles on VAT and GST in India :: TDS :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: list of goods taxed at 4%
 
 
« Indirect Tax »
 5 crucial ways how doing business will be different under GST
 What is the lowdown on the Goods and Services Tax
 Ineligible Input Tax Credit Under Gst Regime
 What is GST, how is it different from now: Decoding the indirect tax regime
 Indirect tax collection can fall short of FY’17 target
 GST in last lap: What's in it for businesses, firms and most importantly, you?
 Indirect tax collection: All you want to know about stuck cases and rejected appeals
 Government achieves revised tax collection target
 Keep indirect taxes 'low, affordable' under GST
 Keep indirect taxes 'low, affordable' under GST
 Education, healthcare will continue to remain out of service tax under GST

Indirect tax collection target set at Rs 3.2 lakh cr in 2008-09
May, 28th 2008

The Government has set Rs 3.2 lakh crore as the target for indirect tax collection during 2008-09, entailing mop-up of Rs 877 crore a day, said Mr P.C. Jha, Chairman, Central Board of Excise and Customs (CBEC), Ministry of Finance.

Delivering the lecture New Paradigm in Revenue Collection at a function organised by the All India Importers and Exporters Association, Mr Jha said indirect tax collection in 2008 exceeded the target by Rs 2,500 crore to touch Rs 2.79 lakh crore.

Taxpayers grievances need to be treated with courtesy while it is the duty of the aggrieved party to take its issues to the highest authority if they are not resolved satisfactorily, he said.

Admitting shortcomings in the department, Mr Jha said the role of revenue collectors should be more of a facilitator than an administrator.

Mr Mohan H. Nihalani, President, All India Importers and Exporters Association, said taxpayers should not remain silent sufferers but at the same time should not shy away from paying tax according to the law.

Eliminating Middlemen

Although customs has achieved 55 per cent computerisation, the excise department was lagging.

The Government has given approval for computerising the excise department.

The work has begun and you will witness a sea-change in six months, Mr Jha said.

The crux of the computerisation programme is to gradually reduce and eliminate the role of the middleman.

Highlighting the revolution ushered in by large taxpayer units (LTU), Mr Jha said a company with 26 factories in 26 places in Bangalore can deal with all its tax liability at a single LTU in the city.

Differences

Mr H.O. Tiwari, Chief Commissioner of Customs Zone, Mumbai, felt that special tax treatments complicate the tax collection process.

In textiles, he said, the Government had given tax sops to handloom and power loom, singling out mills. When mills started feeling the tax burden, the anomaly was corrected.

There is a difference of opinion on GST (Goods and Service Tax) among economists; the ideal measure would be to cap GST at the lowest possible rate and remove all the special tax treatments, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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