CBEC Chief asks to Speed-Up Recovery of 11,450 Cr Arrears [Read Letter]
![CBEC Chief asks to Speed-Up Recovery of 11,450 Cr Arrears [Read Letter]](https://www.taxscan.in/wp-content/uploads/2017/07/Vanaja-N-Sarna.jpg "CBEC Chief asks to Speed-Up Recovery of 11,450 Cr Arrears [Read Letter]")
Vanaja N Sarna, the Chairperson of the Central Board of Excise and Customs ( CBEC ) has confirmed that, till January, there are rupees 11,450 crores of pending recoverable arrears. In a communication addressing the higher officials, the CBEC chief reiterated the need to focus on the recovery of arrears as the financial year 2017-18 is going to end. She further directed them to achieve...
Vanaja N Sarna, the Chairperson of the Central Board of Excise and Customs ( CBEC ) has confirmed that, till January, there are rupees 11,450 crores of pending recoverable arrears.
In a communication addressing the higher officials, the CBEC chief reiterated the need to focus on the recovery of arrears as the financial year 2017-18 is going to end. She further directed them to achieve their respective targets.
“In my review meeting on the status of recovery of arrears, I note that as on 31st January 2018, there is a total of Rs 11,450 crores of clearly recoverable arrears. As you can see, we have a very long way to go before we reach the desired result. All the Zones need to really step up their efforts during the remaining period of this financial year and in the coming year,” Sarna said.
The Board has already issued a letter dated 9th March 2018 by Commissioner TAR in this regard.
“I am sure you have taken note of the instructions mentioned therein to achieve your targets. I would like to particularly mention the commendable effort put in by Pune, Bangalore Customs and Bangalore GST Zones in the recovery of arrears.”
The new Indirect Tax Law, Goods and Services Tax (GST) was introduced by the Government on 1st July last year. Since then, the tax revenue is stuck due to certain glitches in the new tax system.
In this background, this is the second time in this year the CBEC chief is coming with a direction to fasten the recovery proceedings.
Earlier in February, she said that “While it is true that a major portion of the arrears are locked in litigation or are restrained for other reasons, yet there are amounts which are clearly recoverable. I would urge all Chief Commissioners to focus on these recoverable arrears for early recovery in the coming month.”
Recently, the Ministry of Finance has revealed that the Government of India is yet to recover Tax Arrears of Rs. 3579 crores from Service Providers.
To Read the full text of the Letter CLICK HERE