Skip to main content
Indirect Tax collections stands at Rs. 4.85 lakh crore and Direct Tax Collections stands at Rs 3.77 lakh crore upto October 2016

Indirect Tax collections stands at Rs. 4.85 lakhs crore upto October 2016
Indirect Tax collections upto October 2016 indicate net revenue collections of Rs. 4.85 lakh crore which is 26.7% more than the net collections for the corresponding period last year. Till October 2016, 62.4% of the Budget Estimates of indirect taxes for FY 2016-17 has been achieved.
As far as Central Excise collections during April – October 2016 are concerned, Rs. 2.14 lakh crore were collected during the month as compared to Rs. 1.47 lakh crore in the corresponding period of previous year and thus registering a overall growth of 45.4%. Tax collections on account of Service Tax stood at Rs. 1.43 lakh crore during April – October 2016 as compared to Rs. 1.12 lakh crore during the same period in last year and thereby registering a growth of 26.9% in this period.
Tax collections on account of Customs stood at Rs. 1.27 lakh during April – October 2016 as compared to Rs.1.22 lakh crore during the same period in last year and showing a growth of 4.1% in this period.
Direct Tax Collections stands at Rs.3.77 lakh crore upto October 2016
Direct Tax collections upto October 2016 indicate net revenue collections of Rs. 3.77 lakh crore which is 10.6% more than the net collections for the corresponding period last year. Till October 2016, 44.5% of the Budget Estimates of direct taxes for Financial Year 2016-17 has been achieved.
As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 11.6% while that under PIT (including STT etc.) is 18.6%. However, after adjusting for refunds, the net growth in CIT collections is 5% while that in PIT collections is 18.4%. Refunds amounting to Rs. 93,836 crore have been issued during April-October 2016, which is 32.2% higher than the refunds issued during the corresponding period last year.

Comments

Post a Comment

Popular posts from this blog

Assembly Elections 2017  Uttar Pradesh  (403/403) Punjab  (117/117) Goa  (38/40) Party Lead Won Total SP+INC 38 28 66 BJP + 193 119 312 BSP 10 10 20 RLD 00 01 1 Others 03 01 4 Party Lead Won Total SAD+BJP 01 16 17 INC 04 74 78 AAP 00 20 20 BSP 0 0 0 Others 00 02 2 Party Lead Won Total BJP 02 12 14 INC 01 13 14 AAP 0 0 0 MGP + 00 03 3 Others 00 07 7 Uttarakhand  (70/70) Manipur  (60/60)   Party Lead Won Total INC 04 07 11 BJP 15 42 57 BSP 0 0 0 UKD 0 0 0 Others 01 01 2 Party Lead Won Total INC 09 16 25 BJP 06 18 24 AITC 0 01 1 NPF 01 03 4 Others 02 04 6  
1 comment
20
Women Economic Forum – India in Kolkata presented by the JW Marriott Kolkata. December 10, 2016 Sagar Media Inc HEADLINES LEISURE POLITICS ENVIRONMENT ART & ENTERTAINMENT SPORTS ALL ARTICLES Saturday, Dec. 10, 2016 Next update in about 22 hours Archives Women Economic Forum – India in Kolkata presented by the JW Marriott Kolkata. Shared by Sagar Media Inc enkaysagar.wordpress.com  – We have the pleasure to invite you to be our distinguished speaker at our regional Women Economic Forum – India in Kolkata presented by the JW Marriott Kolkata.  We would love to have you with us a… President Park’s impeachment approved Shared by Sagar Media Inc enkaysagar.wordpress.com  – President Park Geun-hye holds a meeting with Cabinet ministers at the presidential office Cheong Wa Dae in Seoul on Dec. 9, 2016 South Korea’s parliament on Friday passed a motion to impeach Presid… Magnitude 7.8 earthquake str
Post a Comment
20
Duterte proposes another UN August 21, 2016 Philippine President Rodrigo Duterte railed against the United Nations today after it called for an end to the wave of killings unleashed by his war on drugs, saying he might leave the organisation. Duterte also said the Philippines will invite China and African nations to form another global organisation in place of United Nations, as world body is not doing enough to address hunger and terrorism. There appears to be human rights working for terrorist and mafia in third world to keep their states in dire state. Two UN human rights experts last week urged Manila to stop the extra-judicial executions and killings that have escalated since Duterte won the Presidency. About 900 suspected drug traffickers have been killed since he came to power after winning the election on May 9. Leave a comment   Edit Three terrorists killed in Tangdar of Jammu August 21, 2016 Jammu & Kashmir, three unidentified militants were killed i
Post a Comment
20