Page 3 Indirect Tax: Latest News and Updates, Top Stories, Videos, Photos About Indirect Tax

Indirect tax collections up 4.6 per cent in April-June

Indirect tax mop up inched up by 4.6 per cent in the April-June quarter of the current fiscal due to decline in custom duty and excise duty collections, reflecting slump in manufacturing activity. Indirect tax collections comprising excise, customs and ...

What is the proposed Banking Transaction Tax?

The Banking Transaction Tax (BTT) is proposed to replace all other taxes in India apart from the customs duty which is levied for import and exports of goods and services. The government of the country since long has been trying to ...

Indirect tax collection rises 5.3% in Apr-Oct

New Delhi: Collection of indirect taxes, excise, customs and service tax stood at about Rs 2,69,100 crore during the first seven months of 2013-14 fiscal, up 5.3 percent from the same period last fiscal year. Excise collection during the April-October ...

Coercion not a means to unearth unaccounted money: Tax official

New Delhi: The income tax department has never looked at coercion as a way to unearth accounted money and the idea is not to create nightmares, a senior tax official said on Friday. "The department is never looking coercion as ...

Finance ministry detects Rs 600 cr service tax evasion

NEW DELHI: In its effort to check any leakage of indirect tax revenue, the Finance Ministry has detected service tax evasion of about Rs 600 crore between January and July this year. As many as 569 cases were detected by ...

What is Value Added Tax (VAT)?

is a tax levied on the purchase price of goods. The levy of value added tax, an indirect tax which is a kind of compensation tax, was introduced to offset the cascading effect of sales tax that heavily burdened the end-consumer ...

Difference Between Direct Tax And Indirect Tax

Direct tax is a tax levied by the central and state governments in addition to some municipalities imposing some minor amount of tax on individuals and corporations as corporate tax or income tax or property tax. The direct tax is a ...

What Is Professional Tax?

Professional tax is an indirect tax levied by most of the Indian state governments and specific municipal corporations on salaried individuals, working in government or non-government entities, or in practise of a profession, including chartered accountants, doctors, lawyers etc or conducting ...

FY13 indirect tax collection exceeds target: Bose

The indirect tax collection for 2012-13 has exceeded the revised target of Rs 4.6 lakh crore, a top Finance Ministry official said today. "We have exceeded the revised estimates in indirect tax," Reveneue Secretary Sumit Bose said at an interactive ...

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