Revenue collection drive to gain momentum in coming months

Bangalore, March 5, 2013:

Following the Budget announcements, various arms of Revenue Department of the Union Government will take aggressive steps to recover outstanding tax dues. This was stated by Ms Joy Kumari Chander, Chief Commissioner of Central Excise and Service Tax, Bangalore Zone, while inaugurating a Seminar on Union Budget 2013-14
organised by ASSOCHAM here today.

Ms Chander further said that Finance Minister’s emphasis upon the need for maintaining clarity and stability in tax regime has been clearly reflected in the Budget proposals. She said that the Government was keen to ensure that tax payers were not subject to undue harassment.

At the same time, it was a matter of concern that not many tax payers were paying taxes honestly and timely. Response was not very  encouraging even to the introduction of Negative List in Service Tax regime in the last year’s Budget.

Ms Chander said that the Government had been endeavouring to urge all those liable to pay taxes to come clean on their income and pay the dues. However, those who continue to try to hide their true income levels will be dealt with severely.

She specifically mentioned about the Voluntary Compliance Encouragement Scheme for those obligated to pay

Service Tax but have not paying the same regularly. She urged all such assessees to take advantage of the Amnesty  scheme proposed in the Budget and help Department realize due taxes.

Speaking on the occasion, Mr Krishna Rao, Commissioner of Income Tax said that not many changes have been proposed in the Direct Tax regime which was a sign of Government’s commitment to provide stability in Tax system. He also outlined several concessions extended to different sections in the Budget proposals.

Earlier welcoming delegates to the Seminar, Mr J Crasta, Co-Chairman, ASSOCHAM Southern Regional Council lauded the Finance Minister for presenting a balanced Budget in the face of looming fiscal crisis and
impending elections. Mr Crasta called for widening of tax base and tightening of tax collection measures.

He said it was rather difficult to believe that there were only 42800 individuals with annual income more than Rs 1 crore in the country. He said the number was likely to be many times more and it was incumbent upon the Tax machinery to unearth all undisclosed incomes and realize
due taxes.

He complimented the Finance Minister for not raising Excise and Service Tax as was widely speculated.

The Seminar was also addressed by Mr D P Nagendrakumar, Additional Director General (Audit) Customs & Central Excise, Bangalore and Mr Surjit Bhujabal, Additional Director General, DGCEI, Bangalore.