Tax authorities hopeful of meeting revenue targets

March 12th, 2009 - 7:30 pm ICT by IANS  

Chennai, March 12 (IANS) The Central Board of Excise and Customs (CBEC) is hopeful of achieving its revenue estimates from excise, customs and service taxes this fiscal, a top official said here Thursday.
“Our revised estimate is Rs.280,000 crore (Rs.2,800 billion). We are hopeful of achieving that target as some sectors have already started picking up after the introduction of stimulus package,” CBEC member V. Sridhar told reporters.

Agreeing that collections from customs duty would be lower as imports had gone down during January-February, he said the automobile and steel sectors were now showing growth.

The CBEC will automate all its services used by large tax paying units nationwide by October this year after the completion of its six pilot projects, he said.

Large tax paying units are the ones that pay more than Rs.50 million as central excise or service taxes or more than Rs.100 million as corporate tax.

“The six pilot projects will be rolled out by the end of this month. We will introduce different automation modules - electronic registration, electronic filing, refunds and others in phases. Once the software glitches are sorted out, nationwide roll-out will be possible,” Sridhar said.

According to him, the automation project, including setting up of a central data centre in Delhi and a disaster recovery centre in Chennai, is being implemented at a cost of Rs.5.8 billion (Rs.580 crore).

Y.G. Parande, director general-systems at the CBEC, said all large units in Bangalore has gone online now where the department has launched electronic registration and filing facility.

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