Tax base News

The Goods and Services Tax was introduced from July 1, 2017, to subsume plethora of indirect taxes like excise and sales tax.

The Income Tax Department has been tasked to add 1.25 crore new return filers in the current financial year as part of the government's plan to widen the tax base in the country.

The government think tank has come out with a detailed plan for reforms in the economy, judiciary, regulatory structure and social sectors, in its 'Three Year Action Agenda, 2017-18 to 2019-20'.

India's tax revenues will benefit from a widening tax base and robust advance collections, but non-tax revenues will face speed-bumps in fiscal 2018, the Development Bank of Singapore said on Friday.

In fresh directives, the CBDT has asked the taxman to take steps for widening the existing tax base, prevent avoidable disputes and ensure that the honest taxpayer is "facilitated" while stressing that tax evasion cases are handled without fear.

CBDT has directed the Income Tax department to step up publicity of the ongoing one-time blackmoney compliance window by advertising it at posh markets, clubs and showrooms and also ensure full privacy to those making disclosures for better collections.

A day after Prime Minister Narendra Modi spoke about near-doubling of taxpayer base to 10 crore, Revenue Secretary Hasmukh Adhia on Friday sought to contextualise the statement saying he was talking about "scope for expansion" and getting to that mark is "impossible".

Haryana Finance Minister Capt Abhimanyu today charged the previous Congress government in the state with lack of governance saying taxes had dried up and their base shrunk during the 10-year rule.