CBIC launches drive to ensure tax buoyancy
The Central Board of Indirect Taxes and Customs (CBIC) has launched a drive to ensure tax buoyancy, sources informed CNBC-TV18.
The Central Board of Indirect Taxes and Customs (CBIC) has launched a drive to ensure tax buoyancy, sources informed CNBC-TV18.
The CBIC has also conducted an internal analysis of taxpayers' return filing and tax payments. CBIC’s internal analysis has shown that tax leakages are there at several points. To plug these, CBIC chairman Ajit Kumar spoke to all principal chief commissioners across the country to begin a region-wise taxpayer analysis.
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The CBIC chairman has asked field formations to reconcile the latest returns with past returns to check the return filing status approach.
In certain cases where there is massive tax avoidance, the CBIC chairman has asked field formalities to not hesitate in initiating necessary enforcement measures.
Additionally, the analysis shows that there is a special focus on sectors such as construction, real estate, metals and FMCG where there are signs of tax leakages.
(Edited by : Anshul)
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