CBDT NEWS

govt-raises-gst-collection-targets-for-february-and-march

Govt raises GST collection targets for February and March

New Delhi: To deal with the slowing economy and missing budgeted estimates but encouraged with GST collection of past two months, the government is planning to augment collections. So the government has reset the GST collection charges for the second time in two months. The collection targets have been fixed to Rs 1.15 lakh crore for February and Rs 1.25 lakh crore for March.

The decision to raise the target was taken at a high-level meeting of senior officials of the CBIT and CBDT. Tax authorities will use data analytics to check mismatch of supply and purchase invoices, mismatch in return filings, over invoicing, excess refunds availed, patching the tax leakages, fake or huge ITC claims, and refunds under inverted duty structure.

18 Jan 2020
fy-2019-20:-it-department-to-ask-for-a-cut-of-rs-1-lakh-crore

FY 2019-20: IT Department to ask for a cut of Rs 1 lakh crore

When Prime Minister Narendra Modi is constantly pitching for making India a $5trillion economy, the income-tax department will ask for a cut of at least Rs 1 lakh crore in the target for direct tax collection in 2019-20 because of growth in the segment sliding to 3 per cent as of October 31. This declining growth is largely because of the consumption slowdown and tax rate cuts.

Corporation tax collection, net of refunds, grew by just 0.5 per cent in the first seven months of the financial year, against the year’s expansion target of 15.4 per cent at Rs 7.66 trillion. However personal I-T collection grew by 5 per cent till October.

11 Nov 2019
govt-raises-gst-collection-targets-for-february-and-march

Govt raises GST collection targets for February and March

By IndianMandarins 18 Jan 2020

New Delhi: To deal with the slowing economy and missing budgeted estimates but encouraged with GST collection of past two months, the government is planning to augment collections. So the government has reset the GST collection charges for the second time in two months. The collection targets have been fixed to Rs 1.15 lakh crore for February and Rs 1.25 lakh crore for March.

The decision to raise the target was taken at a high-level meeting of senior officials of the CBIT and CBDT. Tax authorities will use data analytics to check mismatch of supply and purchase invoices, mismatch in return filings, over invoicing, excess refunds availed, patching the tax leakages, fake or huge ITC claims, and refunds under inverted duty structure.

fy-2019-20:-it-department-to-ask-for-a-cut-of-rs-1-lakh-crore

FY 2019-20: IT Department to ask for a cut of Rs 1 lakh crore

By IndianMandarins 11 Nov 2019

When Prime Minister Narendra Modi is constantly pitching for making India a $5trillion economy, the income-tax department will ask for a cut of at least Rs 1 lakh crore in the target for direct tax collection in 2019-20 because of growth in the segment sliding to 3 per cent as of October 31. This declining growth is largely because of the consumption slowdown and tax rate cuts.

Corporation tax collection, net of refunds, grew by just 0.5 per cent in the first seven months of the financial year, against the year’s expansion target of 15.4 per cent at Rs 7.66 trillion. However personal I-T collection grew by 5 per cent till October.

uts-of-j&k-and-ladakh:-cbdt-extends-deadline-for-all-itrs-filing-to-nov-30

UTs of J&K and Ladakh: CBDT extends deadline for all ITRs filing to Nov 30

By IndianMandarins 03 Nov 2019

In the newly-created Union Territories of J&K and Ladakh the CBDT has extended the deadline for filing of IT Returns to November 30 considering disturbances in phone and internet connectivity across the region. The deadline for filing ITRs for certain categories of taxpayers was to end on October 31. 

appointment-of-cbdt-members-soon

Appointment of CBDT members soon

By IndianMandarins 29 Oct 2019

The NaMo administration is expected to announce the appointment of Ms Seema Khorana Patra (IRS IT:1983) and Subrata Kumar Dash (IRS IT:1983) as Member, Central Board of Direct Taxes (CBDT). Ms Patra’s appointment would be against the vacancy caused after the retirement of Susheel Chandra whereas Dash’s appointment would be against the post vacated by Mrs Neena Kumar (IRS IT:1982). 

cbdt:-04-irs-officers-promoted-&-posted-as-principal-dg-&-principal-ccit

CBDT: 04 IRS officers promoted & posted as Principal DG & Principal CCIT

By IndianMandarins 03 Oct 2019

Following the promotion to hold Principal Chief Commissioner (Income Tax) level post Central Board of Direct Taxes (CBDT) posted four IRS officers as follows:

Ms Rashmi Saxena Sahni (IRS IT:1984)- Principal DG IT (HRD), Delhi

Ms Alka Tyagi (IRS IT:1984)- Principal DGIT (Training), NADT, Nagpur

S S S Bharamarbar Ray (IRS IT:1984)- Principal DGIT (L&R), Delhi

P Sridhar (IRS IT:1984)- Principal Chief Commissioner Income Tax (PCCIT), Nagpur

Further, Ms Asha Agarwal was posted as Principal Chief Commissioner Income Tax.

road-to-success-goes-through

Road to success goes through....?

By IndianMandarins 09 Sep 2019

Some recent developments have made several senior IRS (IT) officers apprehensive about their career prospects. The way Akhilesh Ranjan (member, CBDT) opted for VRS following re-appointment of P C Mody as CBDT Chairman, confidence of several senior most IRS officers seems to have shaken up. But officers belonging to junior batches take it sportingly. Out of humor, junior IRS officers are often heard saying ‘if you have ever served in Gujarat region you have chances but if you didn’t you should not lose hope’.

cbdt:-mittal-is-pccit,-bengaluru,-karnatak-&-goa-region

CBDT: Mittal is PCCIT, Bengaluru, Karnatak & Goa Region

By IndianMandarins 05 Sep 2019

Suresh Kumar Mittal (IRS IT:1982) promoted to the grade of Principal Chief Commissioner of Income Tax (Pr CCIT) for the panel year 2019 (supplementary).

Following his promotion Mittal was posted as Principal Chief Commissioner Income Tax (Prl CCIT), Bengaluru, Karnataka & Goa Region. 

six-irs-officers-tipped-to-become-principal-chief-commissioner-(it)

Six IRS officers tipped to become Principal Chief Commissioner (IT)

By IndianMandarins 16 Jul 2019

Indianmandarins has reliably learned that the NaMo administration is all set to clear the empanelment of six IRS (Income Tax) officers for the cadre posts of Principal Chief Commissioner. Reportedly, the proposal in this regard (post-DPC and FM’s view) has reached to the ACC and may be cleared anytime this month. Of six, two Chief Commissioner rank officers are in the extended panel.

 

The six empanelled officers are S K Mittal (IRSIT:1984), Ms. Alka Tyagi (IRSIT:1984), Ms. Rashmi Saxena Sahni (IRSIT:1984), and Surinderjit Singh (IRSIT:1984). Virendra Singh (IRSIT:1985) and PS Punia (IRSIT:1985) are in the extended panel.

 

Surinderjit Singh is scheduled to retire in October this year whereas S K Mittal, Ms. Alka Tyagi, and Virendra Singh will retire in May and November 2020.

 

Further, Ms. Sahni and Punia will remain on the turf till January 2021 and July 2022 respectively.

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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.