Indirect Taxes

Budget 2019: How to understand direct tax and indirect tax better

indirect tax is collected by one entity in the supply chain and paid to the government

Economic Survey 2018-19: Gross tax to GDP ratio dips to 10.9% in FY19 on shortfall in indirect tax revenues

The gross tax to GDP ratio declined to 10.9 percent in 2018-19 as indirect tax revenues fell short of budget estimates by about 16 percent, due to shortfall in Goods and Services Tax (GST) mop up, the Economic Survey said

Govt to introduce new GST return filing system, further reforms today to mark two years of rollout

The government said GST has integrated India into a single common market by breaking barriers to inter-state trade and commerce

Union Budget 2019: Direct taxes form about 50% of govt's revenue; help curb inflation, maintain socio-economic balance

Direct taxes are considered to be very productive, the reason being, as the working population and community grow, so do the returns from direct taxation.

Union Budget 2019: Indirect taxes imposed by govt to generate revenue; levied equally upon all taxpayers

Indirect taxes can be defined as taxation on an individual or entity, which is ultimately paid for by another person.

Budget 2019: Six ways new Finance Minister Nirmala Sitharaman can overhaul India's tricky direct tax system

With central excise and local sales tax accounting for roughly 50 percent of the petrol bunk prices, its migration to the GST regime brooks no delay

GST collections for March at a record Rs 1.06 lakh crore, fails to meet govt target for fiscal year

GST collections in March indicate that the revenue growth has been picking up despite various rate rationalisation measures

Loan waiver, income scheme for farmers attractive from political outlook, but will damage economy in long-term

In April 2017, Uttar Pradesh announced a farm loan waiver for small and marginal farmers costing Rs 36,400 crore.

Govt mops up Rs 6.12 lakh cr indirect taxes in Apr-Nov, target for FY'19 at Rs 11.16 lakh cr

During April-November of the ongoing fiscal, the total net indirect tax collection (inclusive of CGST, IGST and GST-Compensation Cess) is Rs 6,12,653.47 crore, Minister of State for Finance Shiv Pratap Shukla said in a written reply in the Lok Sabha.

Fiscal deficit target of 3.3% for 2018-19 could be a challenge, likely to be breached, say experts

Government's fiscal deficit touched 114.8% of the full-year estimates at the end of November