Quick Summary
Finance Minister Nirmala Sitharaman, in a significant push towards improving taxpayer experience and bolstering revenue administration, is scheduled to hold a series of high-level review meetings with top officials from the CBIC, CBDT and Customs Departments between June 19 and June 30. According to sources, the meetings will focus on simplifying compliance, enhancing tax administration efficiency, and expediting dispute resolution mechanisms across both direct and indirect tax systems. GST
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FAQ :
The Finance Minister will hold these review meetings between June 19th and June 30th.
The GST review will concentrate on streamlining compliance, enhancing enforcement strategies, reviewing the Directorate General of GST Intelligence's focus, upgrading technology, accelerating refunds, and potentially discussing rate rationalisation without burdening small taxpayers.
The Income Tax review will cover revenue collection trends, unresolved demands, taxpayer grievances, advance tax and TDS collections, disputed tax demands, the Faceless Assessment regime, transfer pricing cases, litigation under Vivad se Vishwas 2024, and refund processing.
The Customs review will evaluate the effectiveness of the Faceless Assessment regime, alongside pending policy reforms and procedural improvements.
The overall aim is to improve taxpayer experience, bolster revenue administration, simplify compliance, enhance tax administration efficiency, and expedite dispute resolution, striking a balance between robust revenue collection and a taxpayer-friendly regime.
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