Union govt targets to collect rs 4.5 cr through taxes

Mumbai, Dec 16 (UNI) Direct and indirect taxes put together, the Central government has fixed the target of collecting a sum of Rs 4,50,000 crore from various industries in the country during the current financial year, said P C Jha, Member of the Central Excise and Service Tax (CBEC), here today.

Addressing a meeting, held jointly by the All India Association of Industries (AIAI) and World Trade Centre (WTC), Mr Jha said,''the CBEC feels that the revenue should come in sufficient quantity in the forms of the taxes, but there was a gap and hence he emphasised on the comliance.

''We, at CBEC, feel that non-compliance was quite high, particularly in the areas of service tax. I urge all the industries to ensure that the compliance level goes higher as it would help us solve various problems being faced by you relating to the payment of taxes,''he said.

Prior to it, President of AIAI and the Vice President of WTC Vijay Kalantri who is also the CMD of Dighi Port Ltd said,''The idea behind holding such meeting was to have a feeling of pre-budget scenario prevailing in the country among the industries''.

He said that tax was essential to run the government, however hike in taxes should not be allowed. Also, he said that there should be simplification in the process of payment of taxes as the problems compound when the things become complex.

Mr Kalantri is the recipient of the Enterprise SCIONS-Jury Special Award instituted by DNA Money and Institute for Technology and Management Business School for his outstanding work in promoting entrepreneurs and entrepreneurship skills for being a successful entrepreneur.

UNI KKD PM AG1716