Wednesday August 22, 2018
Home Business Gross Direct ...

Gross Direct Tax collection up by 10.67 per cent

0
//
20
Republish
Reprint

By Newsgram Staff Writer

Gross direct tax collections during April-February of the Financial Year 2014-15 is up by 10.67 per cent at Rs. 6,12,432 crore as against Rs. 5,53,373 crore collected during the same period last year.

Gross direct tax collection of Corporate tax has also shown an increase of 9.99 percent and stood at Rs. 3,79,917 crore as against Rs. 3,45,396 crore collected during the same period last year.

Gross collection of Personal income tax is up by 11.10 percent and stood at Rs.22,53,13 crore as against Rs.2,02,806 crore collected during the same period last year. Securities Transaction Tax (STT) stands at Rs. 6280 crore at a growth of 45.44%. Net direct tax collections are up by 6.88 percent and stand at Rs. 5,06,765 crore, as compared to Rs. 4,74,146 crore in the same period in the last fiscal.
time-481450_640
Advance tax collection has shown a growth of 13.41% during April-February of the FY 2014-15 as against the growth of 8.67% shown at the same time previous year. Growth in TDS is 7.49% as against 16.69% in the same period last year.

The Self-Assessment Tax shows a growth of 22.50% as against 9.91% in the same period last year. The growth in Regular Tax is 9.09% as against 29.97 % in the same period last year.

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Finance Minister Appeals To Insist On Bill For Every Purchase

the government would start a three-digit consumer helpline number

0
Finance Minister Appeals To Insist On Bill For Every Purchase
Finance Minister Appeals To Insist On Bill For Every Purchase. Flickr

Seeking consumers’ participation in curbing tax evasion, Finance Minister Piyush Goyal on the eve of completion of one year of GST rollout on Saturday appealed to them to insist on bill for every purchase saying it would help the government check evasion and reduce tax rate on each item by as much as 4-5 per cent. He further said the government would start a three-digit consumer helpline number to enable them to lodge complaint against erring traders or any other kind of tax evasion.

Touted as the biggest indirect tax reform since Independence, the Goods and Services Tax (GST) was rolled out last year on July 1. “I want to appeal to the people that they should demand a bill whenever they go to purchase any goods. If you start asking for a bill…if there’s awareness about this, then we can reduce rates by 4-5 per cent for every item (under GST),” Goyal told reporters here.

He said if any shop says that they will sell at a lower price if the consumer does not demand a bill, then the consumer should immediately file a complaint, he said. “We will soon provide a three-digit simple number which will work as a call centre where customers can complain. We will ensure full confidentiality of the complainant,” Goyal said. The endeavour will be to start the helpline number within 15-20 days, he said. A nationwide campaign too could be launched for creating consumer awareness about demanding bills for purchases made. “If everyone starts giving bill then competition will be on quality and customer service and not on ability to cheat the system,” Goyal said. He further said the government wants to reduce the burden of taxation on consumers but revenue needs to increase and support of states is also needed to cut rates where it is essential.

bills
bills owing. Flickr

With formalisation of economy, the government will have more elbow room to reduce rates, he said.

Also read: Out of Total Tax Fine of $15 billion, Apple Pays $1.77 billion to Irish Government

Goyal also assured small businesses if they face any trouble, then they can write to him and it would be resolved. He said amendments would be introduced to the GST law in monsoon session to increase composition scheme threshold from the current Rs 1 crore. The GST Council had last year decided to increase the threshold to Rs 1.5 crore and also decided to amend the law to increase the statutory threshold to Rs 2 crore. (IANS)

Next Story