The Central Board of Excise & Customs (CBEC) has exceeded its target in recovering arrears of revenue fixed for the financial year 2007-08. As against the target of Rs. 3550 crore, the department has collected Rs. 5035 crore, which is 42% higher than the target.
CBEC had adopted a Task-Force based approach for recovery of arrears in an effective manner. The Task-Force known as Tax Recovery Cell (TAR) is headed by an officer of the rank of Chief Commissioner and is assisted by nodal officers stationed at six different locations across the country. A well formulated Action Plan implemented in the F.Y 2007-08 included the sensitization of Commissioners/Chief Commissioners by holding review meetings at Nodal/Zonal levels, initiating steps for vacation of the stay orders in deserving cases, filing early hearing applications in Courts/CESTAT and regular follow-up of such cases, circulation of favourable orders, including those for pre-deposit, passed by CESTAT / Courts for quick recovery of connected arrears, immediate recovery of arrears free from restraints and regular monitoring of performance of field formations in arrears collection.
Concerted efforts made by TAR in close coordination with the field offices, DGCEI and DGRI has aided in achieving this record realisation.
CBEC exceeds target in recovering arrears of revenue
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- MAT & AMT Under Income Tax Act 2025: Rates, Applicability and Credit Rules
- CBDT Notifies SFT Rules for Depository Transactions Under Income Tax Act 2025
- CBDT Notifies SFT Reporting Rules for Mutual Fund Transactions by RTAs Under IT Act 2025
- CAs Under Tax Audit Pressure as Sept 30 Deadline Approaches: No CBDT Extension Yet
- Delhi High Court Mandates Biometric Aadhaar Authentication for All New GST Registrations
- Big Change for Banking Records: New Bankers' Books Evidence Act Takes Effect from 1st Oct 2026
- ICAI Handbook on NRI Residential Status: Key Tax & FEMA Rules Explained
- Congress Leader Alleges CAs Aid Tax Evasion, Sparks Debate Among Tax Professionals
- GST on Restaurant Bills: Chartered Accountant Explains How to Check GSTIN
- Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions
Popular News
- Income from House Property Under Income Tax Act 2025
- Doctor Pays Rs 58 Crore in Tax on Rs 149 Crore Income, Sparks Debate Over Taxpayer Value
- Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions
- CBDT Notifies SFT Rules for Depository Transactions Under Income Tax Act 2025
- CBDT Notifies SFT Reporting Rules for Mutual Fund Transactions by RTAs Under IT Act 2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
