« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  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.