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Thursday, June 24, 2021

Indirect tax

INDIRECT TAX NEWS

Indirect tax revenue up 12% at Rs 10.71 lakh crore in FY21, exceeds Revised Estimates

April 13, 2021 2:06 pm

The mop-up through indirect taxes, which include GST, Customs and excise duties, was Rs 9.54 lakh crore in 2019-20. In the Revised Estimates (RE) for 2020-21, the target was set at Rs 9.89 lakh crore.

Centre’s reliance on indirect tax revenue, pro-rich policy, has deprived govt of resources during COVID crisis

August 11, 2020 11:56 am

COVID-19 may be a blessing in disguise if it allows India to reform its tax system in order to make it work towards inclusive growth and sustainable development rather than targeting only investment-led economic growth. After all, India’s tax-GDP ratio was only 10.9 per cent in 2019, as against the OECD average of 34 per cent.

Centre cuts GST rates on oil exploration & production

October 12, 2017 1:30 am

Sets the ball rolling for likely inclusion of petro items in new indirect tax regime.

Indirect tax mop up grows 41% on central excise spurt

May 10, 2016 2:22 am

Excluding the collections through additional resource mobilisation measures, indirect tax mop-up rose by 17 per cent in April.

‘High indirect tax mop-up reflects economic revival’

August 13, 2015 2:03 am

The growth in the revenue mop up is also marked by increase in service tax rate which will contribute an additional Rs 20,000 crore to the kitty.

Indirect Tax Mop-up Rises: Room for govt to open spending tap

June 30, 2015 1:15 am

With the government enjoying a surge in revenue on greater collection of excise and customs duties, revenue growth target could eventually be exceeded by a large margin.

25-30% of state’s share in GST must go to urban local bodies

June 04, 2015 3:22 am

Goods and services tax to subsume most revenue sources of urban bodies: Urban Development Min.

Indirect tax mop up rises 5% in Dec

January 14, 2015 1:25 am

service tax collection contracted for the first time during the year by 5.2 per cent.

Follow cases to reduce litigation, free locked revenue: FinMin to CBEC

April 16, 2014 1:32 am

The direction comes after scathing observation of the Principal Bench of CESTAT, New Delhi, in December last year.

Real estate: Supreme Court order to hike home prices

October 05, 2013 2:51 am

In a recent judgement,the Supreme Court has upheld VAT for property under construction.