After meeting chief commissioners of customs and excise, finance minister P Chidambaram has called a meeting of chief commissioners and director generals of income tax on September 3 to review tax collection.

Both direct and indirect tax collections are much below the desired rate. Chief commissioners of customs and excise on Tuesday assured the minister that the Central Board of Excise and Customs will meet its target of Rs 5.05 lakh crore for 2012-13.

Besides tax mop-up, Chidambaram is likely to discuss measures taken by the Central Board of Direct Taxes for curbing black money generation. The one-day conference was earlier scheduled for August 31 but has been postponed to September 3.

Though former finance minister Pranab Mukherjee had held the chief commissioners' conference for this year, Chidambaram has called a meeting again since revenue collection has been far below the target. With industrial production at an all time low, the situation is unlikely to improve in the coming months.

The CBDT is expected to make a presentation to the FM about various issues concerning direct taxes administration. For indirect taxes administration, Chidambaram was urged to decentralize powers to field formations which could help augment collection.

Chidambaram is also expected to address a host of issues with regard to measures taken against black money, taxpayer friendly steps, better delivery of I-T department services and subjects related to cadre and personnel management of the department.