Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ACCOUNTING STANDARD :: VAT RATES :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: form 3cd :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS
 
 
Direct Tax »
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately
 Last Date To File Income Tax Return. Here Are The Details
 New tax regime will deliver a mixed bag with some items turning costly
 New members at CBEC, CBDT
 CBDT signs 5 more unilateral advance pricing agreements with taxpayers
 Find out potential taxpayers; focus on smaller cities: CBDT to taxmen

Indirect tax collections to rise further this year: DBS
May, 12th 2016

Indirect tax collections have seen an uptrend at the start of the current fiscal and are likely to rise further this year, offsetting the weakness in direct tax receipts as also helping fiscal consolidation targets, says a DBS report.

According to the global financial services major, a sharp jump in the indirect tax collections kick-started the fiscal 2016-17 on a positive note, even as direct tax receipts are likely to lag in the coming months.

A host of measures were introduced last year to lift indirect revenues, which included an increase in fuel excise duties, higher service tax rate, cleanliness cess and boost from a bounce in base prices of fuel products.

These measures increased the share of indirect tax collections to 49 percent last year.

"We expect this to rise further this year, which will help offset the weakness in direct tax receipts and buffer the annual fiscal consolidation targets," DBS said.

Indirect tax collections for April, jumped 41 percent y-o-y helped primarily by higher excise receipts.

In contrast, direct tax collections are expected to miss last year's targets. As a percentage of GDP, direct tax made up 5.4 percent of GDP last year, down from over 6 per cent in fiscal 2007-08.

"Along with the impact of an unfavourable investment climate, the need to improve tax efficiency, expand tax base, widen tax net and better enforcement remain long-standing concerns," the report noted.

Beyond the short-term fiscal math, focus will be on improving direct tax collections, as these are more equitable in nature, the report said.

Introduction of the goods and services tax, as and when passed by the parliament, will meanwhile streamline and improve the efficiency of the indirect tax structure, it added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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