Revenue department told to focus on tax arrears

A parliamentary panel on Wednesday asked the revenue department to formulate a concrete action plan to recover tax arrears, estimated at over ₹21 lakh crore.

The report of the Standing Committee on Finance, tabled in Parliament, said the revenue department seems to be “caught up in the vicious cycle to tax arrears”, as about ₹18.68 lakh crore in direct tax and ₹2.95 lakh crore in indirect tax arrears are outstanding.

Source link