Page 5 - Revenue Collection

Avg annual revenue collection from tobacco products at Rs 53,750 cr: FM

Finance Minister Nirmala Sitharaman on Tuesday told the Rajya Sabha that the average annual revenue collection, including GST and excise duty, from tobacco products, stands at about Rs 53,750 crore. In reply to a question, the minister also said the GST rates, including compensation cess rates, on goods are fixed on the basis of the recommendations of the GST Council. Answering supplementary questions, she said many non-governmental organisations (NGOs) and consumer education forums have suggested to increase levies on tobacco products considering the health impact. "In the GST Council, we have formed a Group of Ministers (GoM). It has been given the terms of reference to see if on the capacity of a producing unit, where evasion is high, we can consider looking at an increase in the price. "Such items like tobacco have also been put into that list... We will wait for the GoM to come back with its recommendations," she said. Prasanna Acharya (Biju Janata Dal) had asked her if the .

NYSE-listed BPM firm Startek eyes $1-billion revenue in next 2 years

Part of the push to reach this $1 billion target may also come from Chennai-based CSS Corp in which StarTek acquired 26 per cent stake in the company for $30 million, early this year.

Neuberg Diagnostics says will cross Rs 1,000 cr revenue milestone in FY22

The company is planning to set up 10 more labs in the northern and eastern parts of the country for deeper penetration

Contract mfg, exports add to revenue visibility for Sumitomo Chemical

Revenue growth, higher share of specialty products to improve margins going ahead

Govt borrows 55% more this fiscal as lockdowns hit revenue collections

The Centre has borrowed Rs 2.1 trillion so far this fiscal

Centre may need to borrow Rs 1.6 trn more to pay states for revenue loss

The government is expected to muster only Rs 1.1 trillion as it borrows more for a second year straight.

Hotel industry says it lost Rs 1.3 trillion revenue in FY21, seeks help

The Indian hotel industry has taken a hit of over Rs 1.30 lakh crore in revenue for the fiscal year 2020-21 due to the impact of the COVID-19 pandemic, the Federation of Hotel & Restaurant Associations of India (FHRAI) said on Sunday. The apex industry body said it has submitted representation to the Prime Minister and a few other union ministers urging immediate support from the government to save the hospitality sector from imminent collapse and has requested for several fiscal measures for this. "The Indian hotel industry's total revenue in FY2019-20 stood at Rs 1.82 lakh crore. As per our estimates, in FY2020-21, approximately 75 per cent of the industry's revenues got wiped off. That is more than Rs 1.30 lakh crore revenue hit," the FHRAI said in a statement. The businesses are steadily closing and non-performing assets (NPAs) are rising, it added. Since March 2020, the industry has been struggling to manage its statutory and capital expenditure obligations. Repayment of ...

Vivo India sees revenue grow over 45% to Rs 25,060 crore in FY20

Chinese smartphone company Vivo saw its revenue in India growing over 45 per cent to about Rs 25,060 crore in FY20 even as its losses widened significantly over the previous fiscal

Revenue shortfall will affect import of nuclear fuel: DAE to parl panel

The revenue shortfall for the Department of Atomic Energy in 2020-21 will affect the import of nuclear fuel for its power reactors and other important projects

Budget 2021: Additional revenue measures unlikely, reckons Axis Capital

Axis Capital said in a note that recently revised corporate tax structure would be retained to maintain policy consistency so as to not deviate from objective of attracting new investments

Small firms lose out to bigger peers, see sharpest revenue drop in 2 years

The analysis is based on the quarterly results of a common sample of 2,353 listed companies across sectors

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

Excise duty mop-up grows 34% in H1; overall revenue collection down 22%

Overall revenue collection down 22% in Apr-Sept

UP revenue collection increases to Rs 10,672 crore after lockdown

For the third consecutive month after lockdown, UP has posted an impressive revenue receipt of Rs 10,672 crore in October which is Rs 1,828 crore more than what it received last year in the same month

Bihar's revenue collection registers growth in August: Sushil Modi

Sushil Kumar Modi said that the state has registered a growth of 11.70% in revenue collection in August, compared to that in the corresponding month in the previous financial year

Signs of economic revival as UP revenue collection jumps 6.74% in August

After sluggish mop up in April and May, state earnings have been improved with revenue collection in July at Rs 10,675 crore, or 97% of the level achieved the same month a year ago

Fiscal deficit to touch 7% in FY21 as Covid hits revenue: Brickwork Ratings

Revenue from income taxes (personal income tax and corporate income taxes) was lower by 30.5 per cent, and the GST by almost 34 per cent during the period

FinMin unlikely to take Covid-hit FY21 as a base for FY22 Budget

FY20 is being considered for a 'more realistic comparison'

Rajasthan's revenue collection dropped by 70% due to Covid-19, says Gehlot

He also said that it is important that "money is pumped and purchasing power of people is enhanced so that demand can be generated".

15th Finance Commission discusses govt's revenue projections in video meet

The meeting was headed by Chairman NK Singh with Finance and Revenue Secretary Ajay Bhushan Pandey, CBDT Chairman Pramod Chandra Mody and CBIC Chairman M Ajit Kumar