November 10, 2015 9:05 PM

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Growth in indirect tax collection reflects healthy rise in GDP:CEA

Finance Ministry on Tuesday said the increase in indirect tax collections during first seven months of the current fiscal reflects a healthy rise in GDP. In a tweet, Chief Economic Advisor Arvind Subramaniam said indirect tax growth in the period between April to October is 35.9 per cent. The indirect tax collections have registered an increase of almost 36 per cent in the first seven months of the current fiscal at 3.83 lakh crore rupees on spurt in economic activity. These collections reflect additional measures like the excise increases on diesel and petrol, the increase in clean energy cess, and hike in service tax rates to 14 per cent from 12.36 per cent. Stripped of all these additional measures, indirect tax collections increased by 11.6 per cent during April-October.

November 10, 2015 8:58 PM

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Growth in indirect tax collection reflects healthy rise in GDP:CEA

Finance Ministry on Tuesday said the increase in indirect tax collections during first seven months of the current fiscal reflects a healthy rise in GDP. <br/><br/>In a tweet, Chief Economic Advisor Arvind Subramaniam said indirect tax growth in the period between April to October is 35.9 per cent. <br/><br/>The indirect tax collections have registered an increase of almost 36 per cent in the first seven months of the current fiscal at 3.83 lakh crore rupees on spurt in economic activity.<br/> <br/>These collections reflect additional measures like the excise increases on diesel and petrol, the increase in clean energy cess, and hike in service tax rates to 14 per cent from 12.36 per cent. <br/><br/>Stripped of all these additional measures, indirect tax collections increased by 11.6 per cent during April-October.

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