Must Read

Merger of CBDT & CBIC: Conceptually correct but factually incorrect says FinMin

By IndianMandarins- 07 Jul 2020
299

merger-of-cbdt-cbic-conceptually-correct-but-factually-incorrect-says-finmin

The government has outrightly denied media reports about merger plans of the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) calling the report factually incorrect. The two Boards created under the Central Boards of Revenue Act, 1963.

The news report was published without due verification of facts from the competent authorities of Ministry of Finance and only creates a policy distraction when the Ministry is amidst the implementation of a large number of taxpayers’ friendly reforms like the transition from a manual assessment based on territorial jurisdiction to a completely randomized electronic faceless assessment, electronic verification or transactions and faceless appeals.

As pointed out in the report, the said merger was one of the recommendations of the Tax Administrative Reforms Commission (TARC). The government examined the recommendation of TARC in detail but it was not accepted. The Finance Ministry also clarified that the action taken report on the recommendations of the TARC is placed even on the website of the Department of Revenue, which clearly shows that this recommendation was not accepted.

It is evident that this misleading article has been published with no due diligence of even checking official records placed in the public domain or checking the latest status with relevant competent authorities in the Ministry of Finance. It not only reflects poorly on the quality of journalism but also shows a complete disregard for due diligence.

free stat counter

Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.