Gen­uine Tax­pay­ers Need not Worry About Note De­posits, As­sures Ad­hia

Rev­enue sec­re­tary says GST on sched­ule for im­ple­men­ta­tion later this year

The Economic Times - - Front Page -

We’ve got a large amount of data be­cause of de­mon­eti­sa­tion and peo­ple fear it will be mis­used for ha­rass­ing. I don’t think that fear is gen­uine

Deepshikha Sikar­war & Vi­nay Pandey

New Delhi: Rev­enue sec­re­tary Has­mukh Ad­hia said the goods and ser­vices tax is on sched­ule for im­ple­men­ta­tion later this year and that there would be no ha­rass­ment of gen­uine tax­pay­ers over de­posits of old notes in the wake of de­mon­eti­sa­tion. The gov­ern­ment has been able to mine data fol­low­ing the cur­rency swap an­nounce­ment on Novem­ber 8 and match de­posits to inco- me pro­files. But enough safe­guards have been built into the sys­tem to pre­vent per­se­cu­tion.

“First of all, we have never gone be­yond our man­date of tak­ing up more than 1% of cases for scru­tiny,” Ad­hia said. “The ques­tion is that be­cause of de­mon­eti­sa­tion there is a large amount of data which we have got and that data peo­ple are fear­ing will be mis­used for ha­rass­ing peo­ple.”

The 18 lakh ac­count hold­ers that have come to at­ten­tion as a re­sult of this data min­ing will be given a chance to ex­plain their sources of in­come.

“We have not al­lowed this data to be sent di­rectly to the field author­ity for use,” Ad­hia pointed out. “We have put this en­tire data into the e-fil­ing web­site fil­ing of

HAS­MUKH AD­HIA Rev­enue Sec­re­tary

each person in the form of Op­er­a­tion Clean Money.”

Progress is be­ing made on the rules and pro­ce­dures for goods and ser­vices tax (GST), the coun­try’s big­gest in­di­rect tax reform.

“Rules are be­ing framed,” Ad­hia said. “Hope­fully, both the rules and the law should be in place by Fe­bru­ary-end, sealed and ap­proved by the GST Coun­cil. By March 31, Par­lia­ment should also ap­prove it as state as­sem­blies will take some time.”

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.