Categories: Business

No consideration for merger of CBDT, CBIC: Finance Ministry

Finance Ministry
Image Source: GOOGLE

new Delhi. The Finance Ministry said on Monday that the government was not considering a merger of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC). The Tax Administration Reform Commission (TARC), headed by Parthasarathy Shome, proposed a merger of the two boards. The commission submitted its report to the government in 2016. The Finance Ministry has given a clarification in the media after a report about the recommendation of this merger. According to media reports, the government is considering the merger of these direct and indirect tax policy making bodies CBDT and CBIC.

"The government has no proposal to merge the two boards constituted under the Central Board of Revenue Act, 1963," the ministry said in a statement. According to the ministry, the TARC report was discussed in detail but The government did not accept the merger recommendation. The statement said, "In response to the question asked in Parliament, the government had also assured about this. This fact was put before the Government Assurance Committee in 2018. The action report on TARC's recommendations is on the Revenue Department website and it clearly states that this recommendation has not been accepted. "TARC constituted to use tax policies and legislation in the context of better activities globally To make the review and tax administration effective, it was made to make recommendations about the necessary reforms in it. The Commission gave 385 recommendations. Of this, 291 belonged to CBDT and 253 to CBEC.

This post was published on July 6, 2020 10:00 pm

Content Team

Recent Posts

sebi extends deadline to apply for 147 senior level post

Photo: PTI (FILE) Sebi extends deadline to apply for senior level post new Delhi. Capital market regulator SEBI has again…

75 percent of hospitality jobs are at risk due to corona crisis

Photo: PTI corona crisis new Delhi. In the Corona era, the sword is hanging on the jobs of about 75…

40 crore bank account added under PMJDY in 6 years

Photo: PTI 40 crore bank account added under PMJDY in 6 years new Delhi. Six years after the launch of…