The Hindu Business Line : More large taxpayers’ units likely

The Department of Central Excise and Customs is likely to increase the number of large taxpayers’ units (LTUs) and the matter is being examined, said Mr P.C. Jha, Chairman, Central Board of Excise and Customs.

Speaking at an interactive session with the members of Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) here on Friday, he said a new LTU would be set up in Kolkata before the end of this year.

The LTUs facilitate payment of all three taxes (central excise, customs and service tax) by a taxpayer at a single office in a single transaction.

“We have opened LTUs at Bangalore, Chennai, Mumbai and Delhi. After opening a unit at Kolkata, we may open similar units at other places,” Mr Jha said.

On the trends in tax collection, the official said that for the first time direct taxes overtook indirect taxes in 2007-08. ``We have a collection target of Rs 3.20 lakh crore for 2008-09 which represents a 14 per cent growth over the last fiscal,” he said.

``There could be a negative impact on tax collection to an extent of Rs 20,000 core this year due to post-budget changes in taxes especially on petroleum products. However, we are confident of reaching the target,” he said.

Later, while responding to questions, Mr Jha said the Ministry of Finance is currently examining various aspects of the proposed goods and services tax (GST) and it would be in place by April 1, 2010 as announced earlier.

There is also a proposal to set up an ombudsman to look into complaints in tax collection, he added.

More Stories on : Excise and Customs | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page