Monday, October 5, 2015

Govt to likely to mop up Rs 14.5 lk cr in taxes: Revenue Secy

Total tax revenues are likely to be around Rs 14 lakh crore in this fiscal as against the Budget estimate of Rs 14.5 lakh crore. According to revenue secretary Hasmukh Adhia Rs.50,000 cr  short fall mainly because of subdued growth in direct taxes.The government had set an ambitious 16.5-per cent growth target for revenue collection during this current fiscal.

Economic affairs secretary Shaktikanta Das has said that there are indications that GDP will exceed 7.5 per cent in the current financial year.The total direct tax collections until September has gone up by 12 per cent, compared to the corresponding period last year, and indirect tax collection until August by 36 per cent, said Hasmukh Adhia, Revenue Secretary.