Revenue Department

India to become world's most efficient, trusted trade hub: Revenue secy

He further said technology and trust are two pillars of the revenue department

SC rules in favour of DRI authority; clears recovery of Rs 20,000 cr tax

This ruling confirms that DRI officers qualify as "proper officers" under Section 28 of the Customs Act, enabling them to issue show-cause notices

ITC rule: Bombay High Court seeks response from state's revenue dept

During the initial stage of developing the pharmaceutical product, the petitioner (Enzene Biosciences) had incurred a lot of expenditure

Time limit for re-assessment under Income Tax Act will be extended: SC

The court also stated that the directions in the Ashish Agarwal case will extend to all 90,000 assessment notices issued under the old regime

Bulldozer action in UP: FIR against 30 villagers for thrashing officials

A case has been registered against 30 residents of Ukhra village here in connection with an alleged attack on two revenue officials, police said on Tuesday. On Saturday, a team of district administration razed several structures built on government land using bulldozers. When some BJP leaders reached the village on Monday and were talking to the people in presence of police, some of the villagers became violent and attacked Lekhpals (revenue officers) Rudra Pratap Singh and Saurabh Pandey. Meanwhile, the Lakhpal Sangh, an union of the lekhpals, continues to stage a dharna over non arrest of the accused persons, district president Lekhpal Sangh, Ajit Dwivedi said. SHO Nawabganj Balraj Bhati on Tuesday said a case has been registered against 30 named villagers under BNS sections 193 (1) (liability of owner, occupier, etc., of land on which an unlawful assembly or riot takes place), 115 (2) (voluntarily causing hurt), 132 (assault or criminal force to deter public servant from dischar

Need to maintain balance between enforcement, ease of biz: Revenue secy

Revenue Secretary Sanjay Malhotra on Tuesday stressed the importance of maintaining a fine balance between enforcement actions and ease of doing business while dealing with suspected GST evasion cases. Addressing the second edition of the National Conference of Enforcement Chiefs of State and Central GST formations, Malhotra also highlighted the need to track the masterminds and beneficiaries of fake input tax credit so that strict action is taken to have the necessary deterrence effect. The meeting comes amid the ongoing special drive to detect fake GST registration. The all-India drive began on August 16 and will continue for two months. "The Secretary stressed the importance of maintaining a fine balance between enforcement actions and ease of doing business," an official statement said. In his address, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Agarwal emphasised the need for enforcement agencies to stay ahead of the evaders so that the sanctity of the G

Atishi orders probe into deaths of 14 inmates of Asha Kiran shelter home

Delhi minister Atishi on Friday directed the Revenue Department to initiate a magisterial inquiry into the deaths of 14 inmates of the Asha Kiran shelter home in northwest Delhi's Rohini and submit a report within 48 hours. Asha Kiran is a Delhi government-run facility for "mentally challenged" and comes under its Social Welfare Department. The department is currently without a head following the resignation of Raaj Kumar Anand. Delhi Chief Minister Arvind Kejriwal, who is currently lodged in Tihar jail, has not assigned the charge of the department to any minister. Taking cognisance of news reports on the deaths since January this year, Atishi said they "reportedly occurred due to health issues and malnutrition and indicates the lack of availability of requisite facilities to the inmates". "It is very shocking to hear such bad news in the capital city of Delhi and we cannot tolerate such kind of lapses, if found true. This is a very serious issue and needs to be thoroughly ...

First draft of revised direct tax code in 6 months: Revenue secretary

Malhotra said that the exercise is not linked to bringing a new Direct Tax Code, but a comprehensive review of the income tax law

Union Budget 2024: Govt retains Rs 1.2 trn telecom revenue in FY25

Non-tax telecom revenue higher by 28.5% despite muted spectrum auctions

DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports

In a bid to boost India's e-commerce exports, the Directorate General of Foreign Trade (DGFT) is working with the Department of Revenue to establish designated e-commerce hubs across the country to streamline the process for online export shipments. The country's e-commerce exports currently stand at USD 2 billion as compared to China's staggering USD 350 billion, according to industry sources. The government aims at bridging the gap by establishing a supportive e-commerce ecosystem, they said. "A lot of streamlining is required in this regard. We are working with the Department of Revenue to have designated e-commerce hubs so that clearance of goods happens fast," Director General of Foreign Trade Santosh Kumar Sarangi told PTI. He said these hubs will have facilities like dedicated customs and security checks, allowing cleared parcels to proceed through a green channel at airports, eliminating the need for further inspections. This approach mirrors best practices observed in oth

GST Council's fitment committee likely to consider dropping 12% slab

Revamped GST rates may be implemented this financial year

CCI gets revenue department staff for NAA cases for six more months

The authority was established for an initial period of two years to ensure that the benefits of reduction in the GST rates and input tax credits are passed on to the consumers

FIU imposes Rs 5.49 cr penalty on Paytm Payments Bank for PMLA violations

After scrutiny of documents, FIU had issued a compliance Show Cause Notice to the bank for its violations of PML rules, including Know Your Customer

System in place to fix reconciliation row over tax payments: Revenue secy

Malhotra speaks of the Paytm probe, goods and services tax on online gaming companies, and revenue projections

Existing taxation structure for corporates very reasonable: Revenue secy

The existing taxation structure for corporates with a 22 per cent tax is "very reasonable" when compared to an economy of the size of India and hence the concessional tax regime which was in force for four years for new manufacturing units was not extended beyond March 2024, Revenue Secretary Sanjay Malhotra said. In an interview with PTI, Malhotra said the Interim Budget 2024-25 provides for continuity in taxation regime and the benefits given to taxpayers in the last years are showing results in the form of huge buoyancy in personal income tax. "Taxpayer services have been a major focus of the government and this will continue going forward. Taxpayer services includes rationalisation, simplification and trust-based taxation with less scrutiny and more pinpointed assessments and use of technology. We are hopeful taxpayer services will continue to improve helping us in compliance and improving tax collection efficiency," Malhotra said. To a question on why the concessional tax regim

Avg monthly GST earnings to grow 11% to Rs 1.85 trn in FY25: Revenue secy

The government expects average monthly GST collections to touch about Rs 1.85 lakh crore in the next fiscal, up from about Rs 1.66 lakh crore this year, Revenue Secretary Sanjay Malhotra said on Friday. In a post-Budget interview with PTI, Malhotra also said the incorporation date for startups to avail of tax benefits for three years out of 10 have been extended by a year till March 31, 2025. He also said the customs duty cut in mobile spare parts and components to 10 per cent is intended to simplify tax structure, reduce classification disputes and should further spur investment in mobile manufacturing. Finance Minister Nirmala Sitharaman in her 2024-25 interim Budget speech had said the GST taxpayer base as well as monthly revenues have doubled since its launch. The monthly Goods and Services Tax (GST) collection has crossed Rs 1.70 lakh crore in three months this fiscal, taking the average monthly mop-up to Rs 1.67 lakh crore in current fiscal. "GST collections are expected to g

Govt to borrow Rs 14.13 trn from market in FY25 to meet revenue shortfall

Finance Minister Nirmala Sitharaman on Thursday proposed to borrow Rs 14.13 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year starting on April 1. This is lower than last year's gross borrowing estimate of Rs 15.43 lakh crore, which was the highest ever. The lower borrowing estimate for 2024-25 is on account of growing tax revenue and the government's resolve to meet its fiscal consolidation roadmap. About net borrowing estimate, Sitharaman while presenting the interim Budget for 2024-25 said it would be Rs 11.75 lakh crore during the next financial year. As a result, the government would make repayment of Rs 2,37,818 crore during the year. "The gross and net market borrowings through dated securities during 2024-25 are estimated at Rs 14.13 and Rs 11.75 lakh crore respectively. Both will be less than that in 2023-24. Now that the private investments are happening at scale, the lower borrowings by the Central Government will facilitate lar

Customs 2.0 in offing, to provide fully automated stakeholder service: Govt

Revenue Secretary Sanjay Malhotra on Saturday said the customs department is developing a fully automated trade interface system, Customs 2.0, which would also help in improving its score in the World Bank's ranking. Speaking on the International Customs Day 2024 celebrations, organised by the Central Board of Indirect Taxes and Customs (CBIC), Malhotra said technology is going to be the main driver in improving customs processes. The World Bank's Logistics Performance Index 2023, which was released in April last year, had ranked Customs processes at 47th spot, down from 40th position in 2018. "India is on course to become the third largest economy surpassing GDP of USD 5 trillion. Yet we are ranked 47th out of 139 countries in the World Bank report'. There is a huge scope for improvement for us not only in terms of score but also in terms of ranking, Malhotra said. He said the systems division in Customs is preparing for a Customs 2.0 to ensure that all processes in customs and wi

Bihar withholds salaries of mineral dev officers over unmet revenue target

The Bihar government has withheld salaries of several district mineral development officers who have allegedly failed to meet the target of revenue collections in their respective areas in the current financial year so far, officials said on Sunday. The Mines and Geology Department of the state government has sought explanations from such officers in Jehanabad, Gaya, Munger, Jamui and Aurangabad for "failing to meet the target of revenue collections till December 2023 in their respective districts", they said. The department has managed to achieve around 42 per cent of its revenue target of Rs 3,590.66 crore for 2023-24 from the mining sector as it could collect just Rs 1,500 crore till December 2023, a senior official of the department said. "Yes, the department has withheld the salaries of several district mineral development officers who failed to meet the target of revenue collections in their respective areas till December end of the current financial year. "With the revenue .

HUL appoints former revenue secy Tarun Bajaj as independent director

Bajaj belongs to the Indian Administrative Service, 1988 batch, Haryana Cadre, and was the Revenue Secretary of the Government of India before superannuating in November 2022