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: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT RATES :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
Indirect Tax »
 Income Tax dept to intensify anti-black money operations
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%
 Indirect Tax collections up
 Thank you note from income tax department
 Tax dept scanning IDS disclosures filed through post
 Poor management cause of financial pressure on Centre

Indirect tax mop-up rises 27% in Apr-Aug period
September, 14th 2012

Indirect tax collection during the first five months of this fiscal rose 27 per cent to Rs 1.81 lakh crore, compared to the corresponding period last fiscal. In the April-August period last year, the total indirect tax collection stood at Rs 1.43 lakh crore.

The 27 per cent increase in indirect tax collection is mainly on account of hike in rates of excise and service tax in the budget, sources told.

The service tax collection showed an impressive increase of 41 per cent at Rs 47,775 crore. This was up from Rs 33,907 crore collected in the the April-August period of 2011-12.

The mop up from excise duty was 25 per cent higher at Rs 69,025 crore. Customs duty collection was up 20 per cent at Rs 64,920 crore during the five month period.

The government had hiked both the service tax and excise levies to 12 per cent for the current fiscal in the budget, from 10 per cent. Besides, the finance ministry has moved to a new regime of Service Tax based on negative list from July 1, 2012, under which 17 services will never attract tax and another 21 also be exempted from payment of the levy.

The government has fixed indirect tax -- comprising customs, excise and service tax -- collection target at Rs 5.05 lakh crore for the current fiscal, an increase of about 27 per cent from 2011-12 target. The indirect tax mop-up in 2011-12 at Rs 3,92,781 crore was 99.6 per cent of the budget estimate.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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