The senior income tax officials conducted a high – level meeting to strategise and achieve collection of Rs.13.5 lakh crore. This crucial meeting was chaired by Revenue Secretary Dr Ajay Bhushan Pandey and was also attended by the Goods and Services Tax (GST), and Central Board of Indirect Taxes and Customs (CBIC) officials including members of both the boards. Deliberations were made regarding information on ITC claimed by GST Taxpayers and income tax departments to check ITC claimed and equally shown in their personal income tax returns. Moreover, GST information would be available to Income tax department to check the suppression of personal income or tax evasion by showing lower GST turnover or taking a refund from the GST fraudulently. Recently, the GST Council has decided to lower the ITC limit from 20 per cent to 10 per cent before invoices are loaded. “Today’s meeting was yet another effort to strategies and exhort the tax machinery to put up special efforts to stop leakages and curb tax evasion to maximise tax collection without troubling the genuine taxpayers,” added sources.
