Page 15 - Cag
Collection as ratio of arrears down
Collection as a ratio of arrears during 2014-15 has fallen drastically to 1.17 per cent compared to 10.46 per cent in the previous fiscal, public auditor CAG has said in a report tabled in Parliament. "Although, falling ratio of collection of arrears have been repeatedly pointed out by audit, there is no sign of improvement. There is a need to strengthen the recovery mechanism of the department," said the CAG Compliance Audit Report on 'Indirect Taxes - Service Tax'. The Service Tax collection was Rs 1,67,969 crore during 2014-15 and accounted for 30.75 per cent of indirect tax revenue. Indirect tax collection as a ratio of GDP has decreased in 2014-15 compared to the previous fiscal, while as a ratio of gross tax revenue, it has increased, the report said. Service Tax revenue as a percentage of GDP has been increasing every year during last four years, though it declined marginally during the fiscal ending March 2015. The report further said it is cause of concern the large ...
Customs revenue of Rs 20,808 cr not realised in FY15
The report observed that ratio of customs duty collected to GDP had reduced to 1.5%
 "Customs revenue of Rs 20,808 cr not realised in FY15")