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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Auditing »
 Supreme Court puts the spotlight on audit firms
 Auditing to be less of a burden as accountants embrace AI
 CAG's report on GST will be totally paperless
 Time Limit For Completion Of Assessment From The Date Of Special Auditor’s Report Under Income Tax Act, 1961
 Provisioning pertaining to Fraud Accounts
 Tax Audit Report (TAR) Certain exceptions and increased limits according to number of partners and considering nature of activity are desirable
 Cost Auditing Standards [ Cost Audit Documentation (102)] – Part-II
 Conference on Companies Act gets under way
 New bureau to dissolve state-run banks' power to choose auditors
 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015
 ICAI forms 'prima facie' view on NSEL auditor

Rs 10,221 cr unrealised revenue: CAG
July, 16th 2010

The Comptroller and Auditor General of India has asked the state government to take speedy and effective action for realising Rs 10,221 crore of unrealised revenue from various departments.

The report of the Comptroller and Auditor General of India (revenue receipts) for the year that ended 31 March 2009, which was tabled in the assembly on Thursday, indicates the largest number of outstanding audit observations in the department of commercial taxes (11,664) valued at Rs 2,874 crore, followed by tax on vehicles (1,587) valued at Rs 2,226 crore, mines and minerals (293) valued at Rs 1,596 crore and land revenue (7,794) valued at Rs 1,595 crore.

The report states, "It indicates that the heads of departments/offices, whose records were inspected by the AG, failed to discharge due responsibility as they did not send reply to a large number of IRs/paragraphs and also did not take any remedial measures for the defects, omissions and irregularities pointed out by the accountant general."

The report points out that the arrears of revenue in sales tax, taxes on vehicles, land revenue, purchase tax on sugarcane and taxes and duties on electricity, etc. amounted to Rs 6,507.5 crore, of which Rs 3,157.11 crore has been pending for more than five years.

The position of arrears of revenue at the end of 2008-09 in respect of the registration and other departments was not furnished by the government despite being requested in April 2009 and reminded in June 2009, the report observes.

It also said that the expenditure on collection in taxes on vehicles and stamp duty and registration fee was higher than the all-India average and the government needed to look into this aspect.

A test check of the records of sales tax, land revenue, taxes on vehicles, stamp duty and registration fee and other departmental offices conducted during 2008-09 revealed under assessment/ short levy/ loss of revenue, etc amounting to Rs 876.90 crore in 2,273 cases.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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