-
Jul 25, 2014
-
Indirect tax mop-up increases 4.5% in Q1
Indirect tax receipts grew by a modest 4.5% in the first quarter of this fiscal to R1.13 lakh crore against the full-year target of 18.8%. A robust growth in service tax collection compensated for the contraction in central excise and customs receipts growth.
June quarter trend shows it would be pretty difficult to meet the 18.8% indirect tax growth target set for FY15 at R6.2 lakh crore. Recently, at a meeting of the Central Board of Direct Taxes (CBDT), finance minister Arun Jaitley said FY15 direct tax collections might even exceed the target.
Source -
http://www.financialexpress.com
|