« Top Headlines » Open DEMAT Account in 24 hrs  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal «  China braces for tougher transfer pricing regulation... Tax sops for pharma R&D may be extended... » CBEC puts recoverable indirect tax arrears at Rs 4,484 cr September, 05th 2006 The total indirect tax arrears of Rs 24,605 cr includes substantial unrecoverable arrears. The Finance Ministry has estimated the level of recoverable indirect tax arrears at Rs 4,484 crore out of total indirect tax arrears of Rs 24,605 crore as on July 31 this year. Central excise arrears forms the largest chunk in the indirect tax arrears pie of the revenue department at Rs 17,945 crore. While customs duty arrears as on July 31 stood at Rs 5,868 crore, service tax arrears stood at Rs 792 crore. The total indirect tax arrears of Rs 24,605 crore includes substantial unrecoverable arrears owing to factors such as defaulting units being under the Board for Industrial and Financial Reconstruction or due to proceedings initiated by the Debt Recovery Tribunal. A Central Board of Excise and Customs spokesperson explained that recoverable arrears are basically those arrear amounts on which restrictions have not been placed on the revenue department through any court orders etc. In 2005-06, the Revenue Department had recovered indirect tax arrears of Rs 3,140 crore as against target of Rs 2,700 crore. In 2006-07, it has set for itself an indirect tax arrears recovery target of Rs 2,450 crore.