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: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT Audit :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment
 
 
« Service Tax »
 Cabinet clears 4 Bills, GST likely to roll out by July 1
 GST may also impact income tax collections: Experts
 Companies, consultants grope in the dark to meet GST deadline
 Cabinet approves GST, e-commerce cos to pay up to 1% tax
 Cabinet approves supporting GST legislations ahead of 1 July roll-out
 GST: Centralized assessment for service-oriented industries likely
 Tax department to calculate GST’s impact on inflation
 Entrepreneurs are all set to give a red carpet welcome to GST
 GST success depends on preparedness of businesses
 GST few steps away from becoming reality, but what’s in it for Dalal Street?
 Input tax credit - Matching / Mismatching Concept in Present Tax Laws vis-à-vis GST Laws

Excise duty collections rebound 4.4% in May
June, 18th 2008

After experiencing a negative growth in April this year, excise duty receipts grew by 4.4% in May 2008 to Rs 9,583 crore. This helped the government mop up 12.8% higher revenues at Rs 35,216 crore from indirect taxes in the first two months of this fiscal. The figure excludes service taxes.

Data for service tax collections available only for April shows a whopping 40% increase in collections during the month at Rs 6,093 crore, according to an official release.

Excise duty collections grew by 0.9% to Rs 15,993 crore in the first two months of this fiscal compared to the same period last year, thanks to collections picking up in May. Despite the improvement in performance compared to the previous month, the collection in May fell short of the target of 8.8% growth for the whole fiscal.

For the month of April, collections under excise duty had fallen by 3.9% to Rs 6,410 crore against Rs 6,673 crore in the same month last year. Finance minister P Chidambaram had said that meeting target of excise duty collections for this fiscal appeared to be a formidable task.

Customs duty receipts were up by 25.1% for the first two months at Rs 19,223 crore. Collections under this head grew by 25.2% at Rs 10,205 crore in May. Despite cut in Customs duty on various items to tame inflation, the government is hopeful of meeting the Customs collection target for this fiscal.

Customs duty and service tax collections are targeted to grow at 14.4% and 26.1% during the current fiscal, respectively.

This years excise duty collections target is pegged at Rs 1,37,874 crore at a time when the general cenvat duty is reduced from 16% to 14% in the budget.

Excise duty has been reduced on small cars to 12 % from 16 % and hybrid cars to 14 %. For all pharma products, the rate was cut to 8% from 16 %.

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

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