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: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: empanelment :: cpt :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: TDS
Indirect Tax »
 Income Tax dept to intensify anti-black money operations
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%
 Indirect Tax collections up
 Thank you note from income tax department
 Tax dept scanning IDS disclosures filed through post
 Poor management cause of financial pressure on Centre

April indirect tax collection up 10.4% to Rs 33,045 cr
May, 21st 2012

Collection of indirect taxes jumped by 10.4 percent to Rs 33,045 crore in the first month of the current fiscal on the back of increase in excise duty and service tax rates.

The indirect tax -- excise duty, customs and service tax -- collection had totalled Rs 29,936 crore in April 2011.

"At this pace of growth, we will be able to achieve the Budget target of Rs 5.05 lakh crore for the current fiscal," Central Board of Excise and Customs (CBEC) Chairman S K Goel said.

He added that the April tax collection would have been about 22 percent had the government not slashed excise duty and customs on petroleum products in June 2011 to cushion impact of the hike in prices of diesel, kerosene and LPG.

The government has increased both the excise duty and service tax by two percent each to 12 percent in the Budget.

Giving break up of tax collection, Goel said the excise duty mop in April was Rs 12,605 crore against Rs 10,698 crore in the same month last year.

Similarly, service tax collection was up at Rs 8,846 crore against Rs 6,524 crore in April 2011.

However, the customs duty collection in April 2012 was less at Rs 11,594 crore from Rs 12,714 crore in the same month last year. Goel attributed the slump in customs duty collection to higher duty drawback, increase in Countervailing Duty (CVD) and the tax rate cut of June 2011.

The indirect tax mop in 2011-12 at Rs 3,92,781 crore was 99.6 percent of the Budget Estimate, Goel said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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