Category: Indirect Tax

Indirect tax collections rise 5.6% in Apr-Oct

Indirect tax revenues rose marginally by 5.6 percent in the April-October period to over Rs 2.85 lakh crore, mainly on account of increase in service tax and customs collections. However, excise collection, which is an indication of economic activity, declined by…

Indirect tax collections up 4.6% in April-August

Indirect tax collection increased by 4.6 per cent in the April-August period of this fiscal, while customs duty and excise duty collections rose marginally. Indirect tax collections comprising excise, customs and service tax stood at Rs 1,94,492 crore in the first five months of…

VAT Implication on E-Commerce Firms

E-commerce firms are coming in for a closer look by sales tax authorities. The ‘marketplace’ argument used by these entities to sidestep foreign direct investment norms may not pass muster with tax authorities keen to protect their value-added tax (VAT)…