The Goods and Services Tax regime completed three years on July 1. On the revenue front, there was an unofficial target to collect ₹1 lakh crore GST every month. The total revenue collection was ₹7.19 lakh crore in the first eight months of FY18. The total revenue collection was ₹11.77 lakh crore in FY19 and ₹12.22 lakh crore in FY20. …
Amid concerns that the government may fall short of tax collection target in a slowing economy, the Centre has set an ambitious Rs 1.1 lakh crore monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal New Delhi: Amid concerns that the government may fall short of …
New Delhi: The government has re-calibrated and fixed the direct taxes collection target for this financial year at Rs 13.35 lakh crore, a task that the CBDT chief said is difficult but achievable. He also said that the government can only think of further “lowering” corporate tax rates once the exemptions and deductions in this sector are phased out. The …
Officials from the tax department are likely to ask the finance ministry for a reduction in the tax collection target up to 6 per cent, translating to Rs 1.5 lakh crore, in the full Union Budget 2019-20, according to reports. Direct tax collectors may ask for a reduction in collection target to the tune of Rs 60,000-70,000 crore, which is …
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