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Economic intel committee meet in state capital
December, 02nd 2011

The next meeting of the Regional Economic Intelligence Committee (REIC) will be held in Bhopal during December-end. The idea behind the formation of the committee is a better co-ordination various government agencies like central excise, service tax, trade tax and CBI.

The last meeting of the committee was held on September 26. The committee, which meets on quarterly basis, is headed by Chief Commissioner Income Tax (CCIT) and chief commissioner of excise on alternate yearly basis.

Som Vanshi, chief commissioner, central excise, who is currently heading the committee, told TOI from Bhopal over phone, "We normally conduct searches like other government enforcement agencies and inform the department concerned in case we find case of tax evasion.

During the last meeting, a few cases related to a real estate developers had surfaced, which was shared by us with the income tax department accordingly, said Vanshi.

Apart from REIC, another committee has been formed by the central board of direct taxes (CBDT), known as regional tax advisory committee in Indore and other places of the country to have a better co-ordination and feedback with taxpayers.

The committee comprises area MP, collector, representatives of industry, advocates and chartered accountants. Indore region committee is the first out of three committees to go operational in the state.

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