Page 7 - Tax Collection

Central Board of Direct Taxes sweetens Air India privatisation offer

The Central Board of Direct Taxes (CBDT) has exempted the airliner from deducting tax collected at source (TCS)

Tax mop-up doubles in the first quarter but transfers to states shrink

Devolution accounts for just 22% of gross tax revenue in the first quarter

BS Number Wise: Tax mop up shines through fragile recovery

Direct-tax-to-GDP ratio in the first quarter of 2021-22 increased to 5.14 per cent, compared with 3.29 per cent over the last two years

July GST revenue at over Rs 1.16 trn; govt says it marks economic recovery

Revenues for July 2021 are 33 per cent higher than GST collected in the same month last year.

Govt's excise collections on petrol, diesel jump 88% to Rs 3.35 trn

To a separate question, the Minister of State for Finance Pankaj Chaudhary said excise collections in April-June this year totalled Rs 1.01 trillion.

Top Headlines: Advance tax collection up 146%; Nadella is Microsoft chair

Business Standard brings to you the top headlines on Thursday

Structural weakness

India needs to overhaul the tax system

Centre, states stare at Rs 2-trillion GST cess gap amid Covid-19

The GST compensation of states is expected to widen to Rs 2.5-3 trillion in FY22 as against the cess collection of Rs 1 trillion estimated in the Budget

A near-empty CBDT tackles arbitration cases, domestic tax issues

Four vacancies in the Central Board of Direct Taxes (CBDT) have not been filled despite the Appointments Committee of Cabinet (ACC) clearing names in February, exposing administrative gaps

Central govt's indirect tax collection up 12% in FY21, GST number falls

Customs duty collections stood at Rs 1.32 trillion during FY'21, representing around 21 per cent growth.

Google tax collection nearly doubles in FY21; Bengaluru tops the list

India's information technology hub Bengaluru accou­nted for half of the overall equalisation levy mop up at Rs 1,020 crore

Bengaluru lone bright spot in direct tax mop-up with 7.3% growth

Hyderabad reported a 4 per cent decline with a collection of Rs 55,000 crore in FY21 against Rs 57,000 crore a year earlier.

Fresh risk to economy

Govt should avoid the mistakes of 2020

Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection

People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB)

IMF revises India growth forecast, sees GDP shrinking at sharper 8% in FY21

Expects economy to grow 11.5% next year, which could slightly correct govt's fiscal mathematics

Barking up the wrong tree?

Instead of pursuing Vivad Se Vishwas, greater focus on collecting tax dues without dispute may yield better results

Fall in direct tax mop-up slows in November on better economic movements

Personal income tax saw contraction shrink to 13 per cent by November from 22 per cent seen up to September, on the back of lower issuance of refunds and improvement in economic conditions

No escape from extra borrowing

Despite growth likely in the second half of the year, revenue gap will be large leading to higher borrowing and expenditure management

Will ask govt to make employers' contribution tax-free in Budget: PFRDA

Pension fund regulator PFRDA will propose to the government to make employers' contribution of 14% under NPS tax free for all categories of subscribers in the next Budget

Tax mop-up showing signs of pick up, economy on revival path: Finance Secy

Pandey said the generation of e-way bills, needed for transportation of goods, is back to pre-Covid levels and online payments have risen exponentially