Briefly Business: Indirect tax collections grow 15.6% in Apr-Sept

Indirect tax collections have risen at a low rate of 15.6 per cent to Rs 2.17 lakh crore in April-September,against the annual target of 27 per cent

Written by Agencies | Published: October 16, 2012 1:18 am

Indirect tax collections grow 15.6% in Apr-Sept

New Delhi: Indirect tax collections have risen at a low rate of 15.6 per cent to Rs 2.17 lakh crore in April-September,against the annual target of 27 per cent,due to slowdown in economic activity. Excise duty collection during April-September period totalled Rs 80,000 crore,while customs duty mop-up was at Rs 77,000 crore,according to sources. Service tax collection was Rs 60,000 crore during the period.

CCI to hear carmakers’ views from today

NEW DELHi: Carmakers will present their views before the Competition Commission this week on allegations of selling spare parts at higher prices.

SEB loan recast: ‘Issues to be sorted out’

Mumbai: Corporate Affairs and Power Minister Veerappa Moily on Monday said any issues pertaining to recent loan recast of the state distribution companies will be sorted out.

Call data: Tribunal rejects BSNL’s plea

New Delhi: Telecom tribunal TDSAT on Monday dismissed state-run BSNL’s plea to direct Reliance Communications and Tata Tele Services to furnish the Call Data Record of their walky services for the period between February to November 2004 for levy of interconnection usage charge.

CMC posts 51% jump in net profit to R49 cr

New Delhi: IT solutions provider CMC on Monday reported 51 per cent increase in its consolidated net profit at Rs 49.40 crore for the quarter ended September 30,2012. The Tata group firm had reported a net profit of Rs 32.62 crore during the same period last financial year.

‘Growth to remain weak over 2 quarters’

New Delhi: Notwithstanding the pick-up in the industrial production in August,the GDP growth is likely to remain below five per cent for the next two quarters due to weak agriculture and slowdown in demand,Morgan Stanley said in a research note.

Merkel rules out Greek default

Berlin: German Chancellor Angela Merkel has ruled out letting Greece default on its debt,in the latest sign Berlin is softening its stance towards Athens ahead of an eagerly awaited report on its reform progress from the “troika” of international lenders.

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results