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With just three months to go before the financial year comes to a close, the Finance Ministry has begun the new year directing taxmen to maximise tax revenue collections and achieve tax targets without troubling genuine taxpayers.
At a high level meeting chaired by Revenue Secretary Ajay Bhushan Pandey, on Friday, the tax machinery was asked to put up special efforts to stop leakages and curb tax evasion to maximise tax collections.
Senior officials of CBIC and CBDT including the Chairmen and members of both the Boards attended the meeting to strategise and streamline the field functions using data analytics and fix specific responsibilities on the officers.
Collection targets
The Centre is now aiming to achieve the GST target of Rs. 1.10 lakh crore for each of next two month and Rs. 1.25 lakh crore in the last month and direct tax collection target of Rs. 13.35 lakh crore for the year even after corporate tax relief of 1.45 lakh crore.
It was decided in the meeting to have weekly update on the efforts taken up for revenue augmentation measures and endeavours put to realize the targets.
Directions to the I-T Department
Red flag reports generated through the system would have to be taken to their logical conclusions without overreach in a stipulated timeframe and regular updates have to be submitted. Field formations under the Principal Chief Commissioners and Chief Commissioners and Members of both Boards would have to report weekly either in physical meetings or on video conferencing on their efforts being put in the field to curb tax evasion and leakages, action taken on checking fake or huge ITC claims, mismatch in returns filed, etc.
Sources said that field taxmen have been given directions to put forward special efforts to identify and initiate actions against wilful tax evaders or those using fake invoices or inflated or fake e-way Bills. However, officials were asked to ensure that the genuine taxpayers shall not be troubled. Officials were also told to communicate with them that they must genuinely file their taxes before the taxman/notice of the tax department reaches them. Today’s high level meeting was to further strengthen the efforts to
It may be recalled that in December, the finance ministry had set its GST tax collection targets at Rs. 4.45 lakh crore for the remaining period of this Financial Year while targeting Rs. 1.1-1.25 lakh crore per month. The direct tax targets was set at Rs 13.35 lakh crore sans the corporate tax relief of 1.45 lakh crore.
The revenue department will have a multifaceted brainstorming meeting on January 7 to further streamline its revenue augmentation efforts.
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