Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: VAT RATES :: articles on VAT and GST in India :: cpt :: list of goods taxed at 4% :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment
 
 
« Indirect Tax »
 Income-tax (16th Amendment) Rules, 2017
 TDS, TCS deferred for smooth GST rollout
 GST may lead to better operating profit margin for multiplex operators
 Indirect taxes must equal direct taxes
  Income Tax dept issues notices to ‘farmers’ claiming suspect agricultural income
 GST would match or be lower than the multiple indirect taxes on real estate
 Tax incidence under GST lower than current indirect taxes
 Here's the complete list of pre-GST discounts being offered by companies
 Applicability of Explanation 2 to Section 132B of the I.T. Act, 1961- reg.
 Here’s all you need to know about TDS and why it is deducted
 New indirect tax regime

Launch special drive to identify tax evaders: Parl Panel
April, 25th 2012

A Parliamentary panel has asked the government to launch a special drive to identify tax evaders and tap new areas to increase indirect tax collections.

In its report, the Standing Committee on Finance has said the indirect tax collection in 2011-12 was not encouraging.

"The percentage growth of overall indirect tax collections during 2011-12 over the last year is only 14.62 percent whereas it was 40.66 percent during 2010-11," the report tabled in Parliament on Tuesday said.

The committee said that every effort should be made towards mobilising additional revenue but at the same time it should be ensured that "genuine tax payer is not harassed in any manner by the income tax authorities".

"The committee would like the Department of Revenue to launch a special drive to identify tax evaders and tap new areas to increase the indirect tax collections," it said.

It also said that the finance ministry may also consider giving incentives to those tax payers who are paying advance tax on time as this would encourage those tax payers who shirk to pay advance tax in time.

The report said that as the contribution of service sector to the tax revenue is far below its potential, the government should "shift the focus to stricter enforcement by plugging the loopholes and leakages to further enhance the service tax collections".

"... Take stringent penal measures in order to inculcate fear among the defaulters," it added.

The Committee also suggested to conduct a study on the trends of advance tax payment system and other factors giving rise to huge refunds in order to ascertain as to "who are the major claimants for refunds".

Expressing concern over the pathetic manpower shortage at CBEC and CBDT, it said that both the departments should formulate a policy in this regard.

It also raised its voice against the slow recovery of arrears.

"... Recovery of arrears is moving at a very slow pace in both the departments ... (it) warrants an effective and pro-active steps by the government".

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions