Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Indirect Tax »
Open DEMAT Account in 24 hrs
 How to reduce tax on rent from vacant houses
 Make sure to claim these tax deductions
 Investment tips for those opting for new tax regime
 Indirect tax dept issues notices to companies over late input credit claim under GST frame
 E-generated document required for indirect tax notices
 FinMin seeks industry inputs on direct, indirect tax changes
 Govt gives businesses four months to settle indirect tax disputes
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
 No income tax on interest from accident compensation: High Court
 How much tax do you need to pay for your equity investments?
 Income Tax Department proposes new norms for taxing MNCs in India

Govt may miss indirect tax collection target
November, 27th 2014

Indirect tax collection may fall short of the annual target by an estimated Rs. 90,000 crore in the current fiscal, mainly because of subdued industrial activities, a senior finance ministry official has said.

The revenue target for indirect taxes for the current financial year is Rs. 6.23 lakh crore, projecting a growth rate of about 25 per cent.

Indirect tax revenues rose marginally by 5.6 per cent in the April—October period to over Rs. 2.85 lakh crore.

Excise collection, which is an indication of economic activity, declined by 1.2 per cent to Rs. 88,330 crore during this seven—month period of the ongoing fiscal.

On the other hand, service tax collection increased 10.9 per cent to Rs. 90,673 crore and the mop up from customs rose 7.5 per cent to over Rs. 1.06 lakh crore in April—October.

Economic growth, after remaining at sub—5 per cent in last two financial years, is estimated to be between 5.4—5.9 per cent in 2014—15.

During the April—September period of 2014—15, industrial output growth as measured by Index of Industrial Production (IIP) grew at 2.8 per cent.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting