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 :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: cpt :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Indirect Tax »
 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
 Tax officers to maintain digital records of summons, notices
 DIRECTOR OF INCOME TAX Vs. LUFTHANSA GERMAN AIRLINES

Indirect taxes mopped up Rs 2.46 lakh cr in FY'10: Govt
May, 25th 2010

The Centre mopped up Rs 2.46 lakh crore from indirect taxes in the last fiscal, as much as Rs 2,000 crore more than the revised target, despite stimulus packages.

But it collected Rs 3.80 lakh crore from direct taxes against the revised estimate of Rs 3.87 lakh crore, Union Revenue Secretary Sunil Mitra said at a function hosted by the Bengal National Chamber of Commerce and Industry today.

However, Mitra clarified that these were only provisional figures, and the final ones would be released by the Controller General of Accounts.

Sources said that direct tax collections would go up further when final figures come in.

Estimates of indirect tax collections were revised down to Rs 2.44 lakh crore last fiscal, from the Rs 2.69 lakh crore estimated at the time of the Budget.

While the customs duty mop-up target was scaled down by Rs 3,523 crore to Rs 84,477 crore, excise duty collection was reduced by Rs 4,477 crore to Rs 1.02 lakh crore.

Similarly, service tax collection estimates were cut by Rs 7,000 crore to Rs 58,000 crore.

Sources said this had happened because the cut in excise duty by 6 per cent and service tax by 2 per cent had hit the exchequer drastically. Besides, the slowdown in demand had cut the need for greater imports, affecting customs duty collections.

The government had set the target for direct tax collection at Rs 3.70 lakh crore in the 2009-10 budget, but later revised it to Rs 3.87 lakh crore.

For the current fiscal, the government has estimated that Rs 3.15 lakh crore would be collected through indirect taxes. Out of this, Rs 1.32 lakh crore is likely to come from excise duties, Rs 1.15 lakh crore from customs and Rs 68,000 crore from service tax.

The government, during 2010-11, proposes to mop up about Rs 4.30 lakh crore through direct taxes. Of this, Rs 1.28 lakh crore is expected from income tax, despite widening of tax slabs, Rs 3.01 lakh crore from corporate tax, and Rs 603 crore from wealth tax.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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