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 :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: cpt :: form 3cd :: list of goods taxed at 4% :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT Audit :: TDS :: VAT RATES
 
 
Indirect Tax »
 Income Tax Department Steps up Actions under Benami Transactions (Prohibition) Amendment Act, 2016
 Register for GST, if you pay indirect, service tax
 Income tax raids on Uttar Pradesh bureaucrats on charges of tax evasion
 Only genuine farm income must be exempt from tax’
 CBEC rechristened Central Board of Indirect Taxes and Customs
 Income tax department to challenge ITAT relief to Cairn Energy in HC
 5 crucial ways how doing business will be different under GST
 What is the lowdown on the Goods and Services Tax
 Ineligible Input Tax Credit Under Gst Regime
 What is GST, how is it different from now: Decoding the indirect tax regime
 Indirect tax collection can fall short of FY’17 target

Indirect taxes to increase further this year
July, 13th 2008

The Government's indirect taxes collection is likely to swell further this year on account of good collection in Customs and Service taxes, a top government official said.

"Indirect taxes collection in the first three months of the year has been very good, both on account of customs and service tax. Based on the trends, we expect the remaining part of the year to fetch us an equally good revenue," CBCE Chairman, P C Jha, said here on Sunday.

The runaway double-digit inflation notwithstanding, India's growth story will continue as long as foreign capital flowed-in but policy makers cannot be lax in taking measures to contain prices, a senior banker said.

"As long as investments happen in India, the economy will continue to perform...every measures have to be taken by the authorities to contain inflation," State-run, Bank of India's Chairman and Managing Director, T S Narayanasami, told the bank's Annual General Meeting.

The inflationary pressures, primarily an outcome of the record crude oil and commodity prices, had forced the Reserve Bank to effect a series of hikes in its key-rates in the recent weeks.

The apex bank hiked its short-term repo rate at which it lends to banks and Cash Reserve Ratio (CRR), the percentage of money that banks are mandated to keep with the central bank.

Following the hike, the CRR and repo rate presently stands at 8.75 per cent and 8.5 per cent respectively.

Many lenders had hiked the lending rates in order to protect their falling margins, mainly due to a slowing consumer demand for credit.

"Inflation is a global phenomena...the result of the global slowdown may marginally impact India's growth rate in the current year as compared to past few years...," Narayanasami, who is also the Chairman of Indian Banks Association, said.

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

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