Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: empanelment :: TDS :: ACCOUNTING STANDARD :: form 3cd :: ACCOUNTING STANDARDS :: due date for vat payment
 
 
Direct Tax »
 CBDT denies data inconsistency over new taxpayers after note ban
 No inconsistency in number of tax payers: CBDT
 India will benefit from growing tax revenue in FY2018
 I-T plans to pursue property-holders who have never filed income tax returns
 Direct Tax Collections up to July, 2017 show Growth
 How True is CBDT’s Claim of Record New Tax Filers?
 Five Questions for Republican Tax Reformers
 CBDT signs nine UAPAs with Indian taxpayers
 Made a mistake in your tax return? Here's how to correct it
 6 ways to verify your income tax return
 Businesses can file returns, pay taxes for July on GSTN portal

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