The Global Kashmir
No Result
View All Result
  • Home
  • News
    • Kashmir
    • Jammu
  • National
  • World
  • Business
  • Editorial
  • Health
  • Opinion
  • Sports
  • Tech
  • E-Paper
en English
ar Arabiczh-CN Chinese (Simplified)en Englishru Russianes Spanishur Urdu
No Result
View All Result
  • Home
  • News
    • Kashmir
    • Jammu
  • National
  • World
  • Business
  • Editorial
  • Health
  • Opinion
  • Sports
  • Tech
  • E-Paper
No Result
View All Result
The Global Kashmir
No Result
View All Result
TAX

Govt To Stick To Rs 33.61 Lakh Cr Tax Collection Target In Revised Estimate, No Case For Fuel Tax Cut: Official

News Desk by News Desk
December 11, 2023
Reading Time: 2 mins read
0
2
VIEWS
Share on Facebook

NEW DELHI: The government is likely to stick to the budgeted estimate of total tax collection target of Rs 33.61 lakh crore for current fiscal in the revised estimates, a senior finance ministry official said on Monday.
“So far, direct tax collection is up by about 20 per cent and indirect tax is higher by 5 per cent. We have data till the eight months of the fiscal and usually the collections are better in the first half. So, at the moment, we will stick to the Budget numbers in our Revised Estimates (RE),” an official said.
For 2023-24 (April-March), the Union Budget had pegged total tax collections at Rs 33.61 lakh crore, up 10.1 per cent from Rs 30.54 lakh crore in the previous year.
In the current fiscal, Rs 18.23 lakh crore is expected to be collected in direct taxes (personal income tax and corporate tax), and Rs 15.38 lakh crore from indirect taxes (GST, Customs, excise).
The revised estimates for current fiscal’s revenue numbers would be presented as part of the vote on account or interim budget to be presented by the Union finance minister on February 1, 2024, in Parliament.
Asked if there could be a cut in taxes on petrol and diesel, the official said the prices of brent crude have already cooled in the international markets and there is no case for a cut in excise duty on fuel.
India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices.
“When crude oil prices were high, we cut excise duty. When prices have already cooled, the question of tax cut is not there. You can ask for price cut (of petrol and diesel), but it will not be because of cut in taxes,” the official said.
Brent crude prices stood at USD 76.40 a barrel in the futures market early on Monday.
Excise duty on fuel was last cut in May 2022 to cool inflation. The central excise duty on petrol was then cut by Rs 8 per litre and on diesel by Rs 6 per litre. (Agencies)

READ ALSO

India never asked anyone: Shashi Tharoor reacts to Rahul Gandhi’s ‘surrender’ jibe

Collective efforts can lead to greener earth for future generations: Murmu

Monsoon Session Of Parliament From July 21 To August 12: Kiren Rijiju

ADVERTISEMENT
ShareTweetSendSharePinShare
ADVERTISEMENT
Previous Post

‘No Arrest Orders, Normal Life Uninterrupted Amidst Social Media Rumors’

Next Post

Man dies after hit by vehicle in Kulgam village

RelatedPosts

India never asked anyone: Shashi Tharoor reacts to Rahul Gandhi’s ‘surrender’ jibe

India never asked anyone: Shashi Tharoor reacts to Rahul Gandhi’s ‘surrender’ jibe

June 5, 2025
“Holi Promotes Love, Unity, Brotherhood Among People”: President Murmu

Collective efforts can lead to greener earth for future generations: Murmu

June 5, 2025
Monsoon Session Of Parliament From July 21 To August 12: Kiren Rijiju

Monsoon Session Of Parliament From July 21 To August 12: Kiren Rijiju

June 5, 2025

Covid Cases: Health Ministry Asks States To Ensure Availability Of Oxygen, Isolation Beds, Ventilators

11 Dead As RCB’s Grand Party To Celebrate IPL Triumph Turns Tragic Amid Crowd Chaos

HC To Rahul Gandhi: Freedom Of Speech Does Not Include Freedom To Make Defamatory Statements Against Army

Dr Jitendra calls for time bound redressal of Pension related grievances

Absolutely heartrending, says PM Modi as 11 dead in Bengaluru stampede

RBI’s monetary policy panel starts deliberations; decision on Friday

Next Post
5 dead, one injured in Samba road accident

Man dies after hit by vehicle in Kulgam village

Tourism department celebrates International Mountain Day

Tourism department celebrates International Mountain Day

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

Company Info

Address: F11 silk factory road Tulsibagh, Srinagar
Phone : 9797970347.
Email : globalkashmir786@gmail.com
Owner, printer, publisher Editor : Suhail Yousuf Shah
Legal advisor : Advocate Umar Mushtaq
Printed at : LUBAAB PUBLICATIONS LAWAYPORA SRINAGAR
Published from : Green house Soitang, Srinagar, Kashmir.
RNI No : JKENG/2011/38364
Office No's :
Postal Regd No : JKNP 160 / SKGPO 2012 - 2014

About

The Global Kashmir was founded in Srinagar, with a vision to promote positive news from the Kashmir valley and across the globe. Covering first hand, all categories of news from different corners of Jammu and Kashmir as well as relevant national and international news stories. Global Kashmir is dedicated to providing unbiased stories that are yet to be told...

News By Topic

Company Info

  • Contact Us
  • About

© 2022 - Global Kashmir

No Result
View All Result
  • Home
  • News
    • Kashmir
    • Jammu
  • National
  • World
  • Business
  • Editorial
  • Health
  • Opinion
  • Sports
  • Tech
  • E-Paper

© 2022 - Global Kashmir