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: list of goods taxed at 4% :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: empanelment :: TDS :: articles on VAT and GST in India :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Indirect Tax »
 What is a belated income tax return and what are its consequences
 Why rejig of financial year could upset your tax planning
 The threat of harsh penalty should not impede tax compliance
 What are the tax exemption limits for allowances, reimbursements paid to employees? Find out
 High-income taxpayers to get priority treatment and extra facilities
 GST input tax credit rules: How taxpayers will benefit from ITC
 More complications in filing income tax returns
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018
 CBDT asks Income Tax officials to pull their socks up as revenue collection not satisfactory
 Nearly 15 pct growth in direct tax collections for fiscal 2017-18
 Transformation of indirect taxation landscape

Indirect tax collection growth shows economy improving: CEA Arvind Subramanian
August, 18th 2015

The Finance Ministry today said a steady 37 per cent growth in indirect tax collections in four months to July reflects that underlying momentum in the economy is improving.

"These collections indicate that the underlying momentum in the economy continues to improve across all sectors," Chief Economic Advisor Arvind Subramanian told reporters here.

Indirect tax revenue jumped over 37 per cent to over Rs 2.1 lakh crore in April-July of the current fiscal on the back of higher excise duty mop-up.

"The growth in underlying indirect tax collection... for the first four months... suggest increase in nominal GDP growth," Subramanian said.

The excise duty collection reflects hike in excise duty on diesel and petrol, withdrawal of exemptions for motor vehicles and the increase in service tax in June.

" It also includes Customs collections data, which have also been helped by rupee depreciation of 6 per cent between April and July," he said.

In April-July, the excise collections jumped 75.4 per cent to Rs 83,454 crore. While revenues from service tax rose 20.1 per cent to Rs 60,925 crore, those from Customs surged 21 per cent to Rs 66,076 crore.
The Chief Economic Advisor said the growth in underlying indirect tax collections (excluding the additional revenue measures) of 14.6 per cent for the first four months of fiscal suggests a "healthy increase in nominal GDP growth".

Subramanian said the indirect tax collections between April-July reflect in part additional measures taken, including the excise increases in diesel and petrol, the increase in clean energy cess, the withdrawal of exemptions for motor vehicles and consumer durables, and in June 2015, the increase in service tax from 12.36 to 14 per cent.

"Stripped of all additional revenue measures, indirect tax collections increased by 15.2 per cent in July 2015 over July 2014, and by 14.6 per cent for April-July 2015 compared to the April-July 2014," he added.

For July 2015, indirect tax collections increased by 39.1 per cent on year-on-year basis. Cumulatively for April-July 2015, the indirect tax collections increased by 37.6 per cent over the same period last year.

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

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