Page 4 - Tax Revenues

Don't eulogise GST for what it isn't

Regarding revenue realisation, there was a huge expectation that GST would lead to checking of leakage of revenue

NYC may lose 475,000 jobs, $9.7 bn in tax revenue due to Covid-19: Report

Given the staggering job losses, IBO said it assumes that the US economy has entered a recession even though official statistics have not yet captured the scenario

The other casualty of COVID-19: Union Budget for 2020-21

A major alteration in the overall numbers of the Budget is almost inevitable because of the coronavirus pandemic.

Govt's FY20 disinvestment target may fall short by Rs 10,000 crore

The only transactions that are expected to go through by March 31 include the acquisition of THDC and NEEPCO by NTPC, the planned IPO of IRFC, and some buybacks by PSUs, it's learnt

Best of BS Opinion: Budget's tax revenue estimates, RCEP talks, and more

Here's a selection of Business Standard Opinion pieces for the day

Budget 2020: States' share in central tax pool seen at 50-year low

The states' revenue from the central tax pool was up 25.8 per cent YoY in FY19, while it was down 0.4 per cent YoY in FY18

Crowding out and opening up

Tied spending, revenue crunch mean the finance minister did the best she could on financing the deficit

Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%

This will be the second time that the projection will be changed for the current fiscal year

Top 10 business headlines: Economic survey to be tabled in Parliament

From India Inc preparations for Brexit to Rahul Bajaj stepping down from executive role, Business Standard brings you the top 10 headlines for the day

GST, VAT collection dips as 6 states' tax revenue till November FY20 falls

On the other hand, tax revenues rose 13.44 per cent for West Bengal in this period

Direct tax collections from Mumbai dip 13%, a double-digit fall in 10 years

It had declined by slightly over 4% in December. The city contributes 37% to the total direct tax revenues

Can Budget find ways to tackle tax disputes? India Inc is waiting

A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business

GST mop-up crosses Rs 1 trn in Nov over festive demand, anti-evasion steps

Although the collection figures come as a breather for the government, it is lower than the expected collection rate needed to meet the steep target for FY20

Low tax revenue, high spend push H1 fiscal deficit to 93% of FY20 target

Though the figure seemed alarming, it was bit lower than 95.3 per cent in the corresponding period of 2018-19

A decelerating economy has only exacerbated the govt's tax worries

A tax revenue growth target of 18 per cent is a tough task even when the economy does well on the growth front

IMF raises doubts about India's tax revenue estimates, GDP growth target

Gross actual (direct plus indirect) tax collection in 2018-19 fell short by Rs 1.7 trillion, or 7.5 per cent of the revised estimates for the year

Prioritise GDP, not tax revenues

The present tax policy is focused on increasing tax revenues, whereas it should try to obtain the same number of rupees of taxation, while enabling a higher GDP

Union Budget 2019: States to get smaller share in tax revenue, funds

According to Finance Commission formula, 42% of the divisible pool of tax revenue collected by the Centre has to be distributed to states

Govt forgoes Rs 17.15 lakh cr revenue in past 3 FYs

Amount from direct tax is estimated at Rs 93,047 crore in FY 2013-14, Rs 1,18,593 crore in FY 2014-15, and Rs 1,28,639 crore in FY 2015-16