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 VAT and GST in India :: TDS :: cpt :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Indirect Tax »
 Cabinet Approves 4 GST Supplementary Bills
 GST Council approves all five draft bills ahead of new indirect tax regime
 CAG questions income tax deparment’s ability to probe shell companies
 Income from MF investments must be shown in income tax returns
 Indirect tax higher than direct tax revenues in April-Feb
 Many foreign investors reach out to tax experts about indirect transfer of shares provisions
 How changes in capital gains norms impact your portfolio
 It's time to really pull up India's out-of-control banks
 Quest to widen direct tax net
 Central indirect tax officers seek redressal of flaws in GST’s final design
 How it affects long-term capital gains tax calculations

Direct tax collections show robust growth 26% in current fiscal
September, 16th 2011

Indirect tax collection rose a robust 24% in August from a year ago, belying the industrial slowdown suggested by index of industrial production.

IIP growth dropped to a 21-month low of 3.3% in July as manufacturing expanded by a measly 2.3% from a year ago.

The excise levy - considered a good indicator of manufacturing activity as it is imposed the factory gate - rose 19.7% in August.

"Revenue trend has been encouraging. We are confident of meeting the collection target," SD Mazumdar, chairman, Central Board of Excise and Customs told ET.

Opportunity to Make MoneyStart trading forex online now. Open an account for free! Plummeting industrial growth had fueled apprehensions of indirect taxes collection coming under pressure and government missing the target of 4 lakh crore, an increase of 17.3% from last year, set for the current fiscal.

"There may have been some sectoral moderation but we are nowhere near a full-blown slowdown. Indirect taxes collections and export numbers are more reliable," said Abheek Barua, chief economist, HDFC Bank.

Similar trend was seen in Customs duty, which grew by 13.4% in August, 2011, despite the rejig in duties on petroleum products.

The duty reduction that included reduction in central excise duties is expected to cost the government 35,000 crore in revenues in the current fiscal.

Service tax collections grew by a whopping 57.3% in August 2011, corroborating the 10% rise in the services in the first quarter.

Mazumdar, however, attributed the rise to emphasis on stringent administrative measures, such as attachment of property, taken by the department to boost collections.

The direct tax collections were up 26% in the first five months of the current fiscal though net tax collections were down to 96,738 from 100,113 crore a year ago because of a 154% increase in tax refunds.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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