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…
Category: Indirect Tax
Rise in indirect tax collections well below year’s 26% target
Indirect Tax collections rose 12.3 per cent in September over a year earlier, to Rs 48,012 crore as compared to Rs 42,738 crore in the same month last year, due to a big rise in customs duty collection. Share on:…
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)…