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: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TDS :: list of goods taxed at 4% :: cpt :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

'Tax revenues to cross $143 bn by 2010'
June, 18th 2007
India's revenues from corporate tax, income tax, custom and excise duties, and service taxes will touch Rs.580,816 crore (Rs.5.80 trillion or $143 billion) by 2009-10, according to a study.

Collections from corporate and service taxes as also income taxes would continue to be on the higher growth trajectory, said the study - "Tax Revenue: The Future Growth Path" - conducted by the Associated Chambers of Commerce and Industry of India (Assocham).

"Service tax, which was imposed in 1994 with three services in its net, registered a growth of 9,200 percent between 1994 and 2006-07. However, in 2006-07, the service tax was imposed on 106 services," Assocham president Venugopal N. Dhoot said in a statement here Sunday.

The total revenue earned during 2006-07 from service taxes was Rs.381.69 billion.

The study also noted that there has been an increase in tax compliance as a result of simpler tax administration and increased economic activities.

In 1992-93, the government collected Rs.78.88 billion worth of revenues from income tax, which rose to Rs.825.10 billion in 2006-07. And according to the chamber, this has been possible "due to better tax compliance and increased number of taxpayers and much lesser harassment from authorities concerned".

Volumes of tax collection from excise and custom duties have also increased significantly - by 280 percent.

"The excise duty's share in the total tax revenue, which was 41.3 percent in 1992-93, declined to 25.1 percent in 2006-07. The customs duty's share in the total tax revenue, which was 31.9 percent in 1992-93, fell to 17.5 percent in 2006-07, as a result of massive structuring on excise and customs," Assocham said.

Increased economic activity coupled with growth in the number of industrial units has contributed to increased revenue collection from taxes.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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