While both revenue deficit and fiscal deficit are targeted to be lower than the revised estimate in 2024–25, it is still sufficient at 1.5% of GDP and 4.4% of GDP. It should be associated with the outstanding liabilities of the central government which is estimated to be 56.1% of the GDP. It is humble and burns the central government. The proposed changes in the Income Tax regime with the new proposed tax slab have mentioned the possibility of a possible revenue in the speech of the news and the minister. 1 lakh crore due to these proposals.
Which raises the original question – are we enough to ensure that we all gather? Annex -5 of the receipt budget 2025-26 would clearly suggest that we are not. This is a details of tax revenue, but the fiscal responsibility and the Budget Management (FRBM) Rules have not been equipped by the Central Government in the context of Rule 6 – this rule ensures transparency in its fiscal operation and reducing privacy in annual financial Wants the statement.
Total amount is under dispute over taxes on income and expenditure 13,36,239.36 crore – Corporation for tax accounting 8.06 lakh crore and tax on income 5.29 lakh crores from this amount. It is said to be pending for more than 2.50 lakh crores. The situation on taxes on goods and services is a bit better. The total amount is under dispute 2,03,493.14 crores. Service tax account for maximum Union excise after 1.02 lakh crore 56 thousand crores and customs duty 39 thousand crores. More than Out of total, 70 thousand crores is pending for more than 5 years.
If these figures study disappointing, it gets spoiled when quantity is not examined under dispute. This indicates that the process of addition and appeal has reached the influence – These are quantities that the government should underestimate, but has not happened. Total outstanding due to taxes on income and expenditure .15,22,642.32 crore. From the tax account for this corporation 5.90 lakh crore and tax on income 9.32 lakh crores. More than It is said to be pending for more than 5 lakh crores. The situation on taxes on goods and services is much better with the outstanding amount of total amount 45 thousand crores.
An attachment of the budget of the receipt gives details of the arrears on non-tax revenue-the name suggests that the government has revenue earned from sources other than taxes. It is revenue from receipts from fiscal services, dividends and profits, police receipts and other financial services -Petrolm Cess /Royalty. There is also sufficient amount of outstanding amount here – a grand total 3,65,741 crore.
The total amount of the outstanding amount of tax revenue is There is 31 lakh crores and non-tax revenue 3.65 lakh crores – a large total of more than 34 lakh crores. The total outstanding tax revenue was shown for Rs 21.30 lakh crore in the earlier year, 2024-25 receipt budget. Really almost a significant leap of tax arrears 10 lakh crores in a year. Is it more upset that it has been a trend. The status of tax arrears was raised, but the receipt was not felt according to budget 2023-24 15.82 lakh crore -and by the next financial year, the situation has increased to about 5 lakh crore rupees.
This raises a big question – what steps are being taken to reduce the arrears? The details given in the receipt budget do not suggest how much arrears have been reduced or felt in the year. As mentioned above, the total arrears have only increased. Obviously, this is an area that he has not received the attention that he deserves. It makes very little understanding to find out cases of theft for enforcement agencies, appeals to the long -term process and appeals to finish, demand to confirm and then to realize the dues. Very little action is taken by the department. This revenue is lost- and if the total amount of the outstanding amount will reduce the fiscal burden of the government.
It is necessary that both direct taxes and indirect taxes form a special team to focus on realizing both the board arrears. Given the big and long years of pendency, it is going to be difficult. Technology should be used and such defaulter S data base should be used to identify them if they are working under a different name. And where the defaulters are not traced despite the best efforts despite the best efforts in the context of the written right-off of such irreparable dues, should be resorted to. Otherwise, it will be a spot that the department can be well without.
– Author, Najeeb Shah, former president, central boards of indirect taxes and customs. The views expressed are individual.
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