Indirect tax revenue mop-up: CBEC to hold strategy session next month
July, 30th 2014
The indirect tax collection targets for the current fiscal may be stiff, but the Central Board of Excise and Customs (CBEC) is keen to meet this “challenge”.
For this purpose, the CBEC’s top brass will next month to hold discussions with chief commissioners from all over the country to devise a suitable strategy, J M Shanthi Sundharam, Chairperson, CBEC, said.
“We will look at all the options before us.. the strategies we need to adopt. We will be examining all this at the chief commissioners’ conference next month”, she told Business Line on the sidelines of Assocham’s post budget conference here.
The latest budget has placed the CBEC with enormous challenge in terms of revenue collection target for current fiscal.
The revenue mop-up target for the current fiscal is 25 per cent higher over the previous fiscal’s actual collection.
“The targets are extremely high given the kind of low economic growth (sub 5 per cent) seen last fiscal. But we need to aim high”, she said.
She expressed confidence that the various tariff related measures taken in the recent budget would show results in the next six months and help revive the manufacturing sector. .