You are here: Home » Economy & Policy » News
Business Standard

Revenue Secy holds meet on using data analytics for ramping up revenue

The high-level meeting was to further strengthen the efforts to exhort the tax machinery to put up special efforts to stop leakages

Ajay Bhushan Pandey | Data analytics


Ajay Bhushan Pandey, Revenue Secretary
Ajay Bhushan Pandey, Revenue Secretary

The Department of Revenue (DoR) in the Ministry of Finance on Friday held a high-level meeting to strategize and streamline the functions using and fix specific responsibilities on the officers, the ministry sources said.

According to the sources, the meeting was held to augment revenue and achieve the GST target of Rs 1.10 lakh crore for next two month, Rs 1.25 lakh crore in the last month and direct tax collection target of Rs 13.35 lakh crore for the year despite corporate tax relief of 1.45 lakh crore.

It was conducted under the chairmanship of the Revenue Secretary Dr and senior officials of Central Board of Indirect Taxes and Customs (CBIC) and Central Board of Direct Taxes (CBDT) including Chairman and members of both the Boards.

It was decided in the meeting to have weekly updates on the efforts taken up for revenue augmentation measures and endeavors put to realize the targets, the source stated.

Red flag reports generated through the system would have to be taken to their logical conclusions without overreach in a stipulated timeframe and regular updates have to be submitted.

Field formations under the Principal Chief Commissioners and Chief Commissioners and Members of both Boards would have to report weekly either in physical meetings or on video conferencing on their efforts being put in the field to curb tax evasion and leakages, action was taken on checking fake or huge ITC claims, mismatch in returns filed, etc.

Sources said that field taxmen have been given directions to put forward special efforts to identify and initiate actions against wilful tax evaders or those using fake invoices or inflated or fake e-way Bills. However, officials were asked to ensure that the genuine taxpayers shall not be troubled.

Officials were also told to communicate with them that they must genuinely file their taxes before the taxman and notice of the tax department reaches them.

The high-level meeting was to further strengthen the efforts to exhort the tax machinery to put up special efforts to stop leakages and curb tax evasion to maximize tax collection without troubling the genuine taxpayers.

It may be recalled that in December, the Finance Ministry has put its GST tax collection targets to Rs 4.45 lakh crore for the remaining period of this Financial Year with targeting of Rs 1.1 lakh crore per month with Rs 1.25 lakh crore for a single month while the direct tax targets will be at Rs 13.35 lakh crore sans the corporate tax relief of 1.45 lakh crore.

Also, DoR is going to have a multifaceted brainstorming meeting next week on January 7 to further streamline its revenue augmentation efforts.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, January 04 2020. 12:54 IST