Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Despite substantial monthly GST collections, the Revenue Department is doing all possible to reach collection targets. The GST administration has instructed officers nationwide to get busy to fulfil the current year's GST income target. According to sources, officers of all grades have been told not to take leaves of absence until March 31 unless there is an emergency. Meanwhile, these directives have not been favourably received by all department officers. Many believe it is disheartening to see that GST officials are being forced to take fewer regular leaves of absence despite the progress made in digital technology.
“We are navigating through a transformed India, a digital India, where GST compliance has fully transitioned online, with plans to digitalise assessments and litigation in the coming years. Despite these advancements, it’s concerning to observe that leading GST offices across the state are instructing tax officers to “minimise routine leaves until March 31, 2024” until they achieve their revenue quotas,” he said.
As per Rajat Mohan, executive director of Moore Singhi, this approach suggests that some GST offices continue to adhere to traditional, rigid practices as the financial year draws to a close, undermining the spirit of fairness in tax collection.
He further said these issues highlight the need for a more balanced approach in tax administration that upholds the principles of fairness, efficiency, and transparency, ensuring the tax system remains equitable and supportive of taxpayer needs. The government expects to collect ₹9.6 lakh crore in FY24, per its revised estimates. The gross GST revenue in January stood at ₹1.72 lakh crore, a rise of 10.4% YoY.
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