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: TDS :: cpt :: VAT RATES :: articles on VAT and GST in India :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARD :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: empanelment
 
 
Customs and Excise »
 Central Board of Excise and Customs to soon notify new procedural framework
 CBEC set to be Central Board of Indirect Taxes and Customs
 Govt to give customs, excise duty benefits to boost solar rooftop sector
 Clarification regarding posting of Central Excise officer in Cigarette units-reg.
 Ensure transparency in excise department working: Bizmen to government
 It is time to review the customs duty on essential food imports
 Migration to GST of existing Central Excise / Service Tax Assessees
 Rate of exchange of conversion of the foreign currency with effect from 3rd February, 2017
 Budgetary Changes In Customs
 Customs and excise officials upset with GST administration deal with states
 Higher petro excise props up govt tax kitty

Customs Revenue Rises to Rs 1,680cr
May, 29th 2015

The Cochin Customs recorded a substantial annual growth in its revenues in the 2014-’15 fiscal year, driven by an increase in the inflow of refined petroleum products, gold and synthetic rubber.

Revenue collection at airports and ports in the State rose to Rs 1679.91 crore in 2014-’15 from Rs 1551.19 crore in the previous financial year.

“The buoyancy in revenue collection was supported by higher import of refined petroleum products, synthetic rubber and gold, coupled with rise in overall exports, especially natural rubber,” said Cochin Customs Commissioner Dr K N Raghavan.

The Customs Department has collected Rs 153 crore from the import of refined petroleum products during the fiscal year, and the import of synthetic rubber came in at Rs 133 crore. At the same time, the export value of natural rubber totaled Rs 81 crore.
Revenue from the import of gold was Rs 83 crore during the fiscal, with substantial contribution from the inflow of gold through the State’s ports. The import of polymer of ethylene, crude oil, LNG, HMS and aromatic oil also contributed to the revenue growth.

Meanwhile, revenue from the import and export of cars dropped notably to Rs 1 crore in 2014-’15 from Rs 28 crore in 2013-’14 and Rs 82 crore in 2012-’13.

“During 2014-’15, the Customs agencies collected Rs Rs 12.77 crore as customs duty from gold smugglers. However, value of the 250.88-kg gold seized from smugglers - approximately Rs 67.92 crore in open market - will not be accounted in the revenue of the Department as the seized contraband had to be handed over to the government reserves,” said Customs officials.

“In the opening month of the current fiscal year, the Cochin Customs posted a revenue of Rs 136.21 crore, against Rs 112.82 crore in the corresponding month of last year. Once the GST regime is fully introduced in the country, Customs revenue is likely to go further up as the GST would subsume services tax, Excise duty, stamp duty, entry tax and central sales tax,” added the officials.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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