Finance Ministry Issues Guidelines For Revenue Dept Officers, Asks Them to Boost Monthly GST Collection to Rs 1.1 Lakh Crore
Narendra Modi-led Union government initiated measures to boost tax collections for the next four collection months and asked the senior officers of the Revenue department's senior officers to achieve set targets. In the meeting, the government had set the monthly goods and services tax (GST) collections for the next four months to Rs 1.1 lakh crore.
New Delhi, December 17: Prime Minister Narendra Modi-led Union government on Tuesday initiated measures to boost tax collections for the next four collection months and asked the senior officers of the Revenue department's senior officers to achieve set targets. In this regard, the directives have also been sent to the members of the Central Board of Indirect Taxes and Customs, Central Board of Direct Taxation and Principal Chief Commissioners and Chief Commissioners as well as field officers.
According to a report, published by CNBC TV18, the Union Finance Ministry, under the leadership of Union Minister Nirmala Sitharaman, had asked the senior officers to boost both direct and indirect tax collections and meet the targets. However, strict guidelines have been issued and officers have been asked not to trouble any taxpayer during field visits, said finance ministry officials on anonymity. GST Collection For November Jumps to Rs 1.03 Lakh Crore, Signals Possible Recovery From Economic Slowdown.
Informing about the latest development, a finance ministry official stated that Revenue Secretary Ajay Bhushan Pandey held a video conference meeting with all senior officers in this regard on Monday. In the meeting, the government had set the monthly goods and services tax (GST) collections for the next four months to Rs 1.1 lakh crore. Adding more, the official said that tax officials have been asked to achieve a target of Rs 1.25 lakh crore for at least one out of these four months.
Apart from this, the officers were guidelined not to give the excuse of the the corporate tax relief worth Rs 1.45 lakh crore for lesser direct tax collection target. Also, guidelines were set for the officers to push push themselves to reach the target of Rs 13.5 lakh crore in direct taxes as well, quotes the report. Following this, tax officers will make field visits regularly every week. Among other guidelines set by the Revenue Secretary include bringing tax evaders to book, asking the evader file the revised return, ensuring GSTR1 and GSTR3B forms filled by taxpayers, and genuine taxpayers are not troubled or harassed.
It is to be known that Sitharaman had announced the corporate rate tax cut -- from 30 percent to 22 percent -- in September this year, after the reports on economic crisis and slow GDP growth became a reality in the country. Following the decision, the Union government will have to forgo Rs 1.45 lakh crore in the direct tax collection, which grew only three percent in the first six months of the April-March fiscal year.
Earlier, the Finance Ministry has recorded a significant upswing in tax collection in November and issued a . statement. It said that the gross revenue through Goods & Services Tax (GST) collections jumped to Rs 1.03 lakh crore, which is the third time since the roll-out of GST that the monthly collection has crossed the Rs 1 trillion-mark. Out of the total Rs 1,03,492 crore collected, the maximum was accumulated from IGST - Rs 49,028 crore -- followed by SGST -- Rs 27,144 crore. Through CGST, a revenue of Rs 19,592 crore was collected, followed by Rs 7,727 crore in Cess.
(With Inputs from PTI)
(The above story first appeared on LatestLY on Dec 17, 2019 07:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).