Monday, 9 January 2017

Nifty hovers around 8250

In the first 9 months of current fiscal, from April to December, indirect tax collection has increased by 25 percent year-on-year while the direct tax collection has increased 12 percent. Addressing the press conference, Finance Minister Arun Jaitley said that in December 2016, service tax collection saw a rise of 14.2 percent. Central excise saw an improvement by 31.6 percent, but the custom duty collection declined 6.3 percent on back of lower gold imports. Most states reported a hike in value added tax (VAT) in November mostly because of tax collection in old banned currency.

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