PM Modi to meet revenue department - Fusion - WeRIndia

PM Modi to meet revenue department on black money and GST

PM Modi to meet revenue department on black money and GST

Prime Minister Narendra Modi is going to meet the revenue department in the next week. There is a meeting which is scheduled on May 2 to discuss mainly about black money and GST.

Lot of things happened post demonetization. As per the sources, PM will discuss the anti-black money moves after demonetization and tax collected since then. PM will also focus on GST rollout.

The main aim of this meeting is to review the work and actions of department under the finance ministry.

Particularly, the government wants to know the initiatives against black money as it took a bold step of turning the then valid big currency notes into junk papers.

So, the main focus will also be on tax matters after the bold move by Prime Minister Narendra Modi.

After demonetization, many people disclosed their income voluntarily to avoid the consequences of tax evasion and paid income tax as well. Some even paid huge penalties for their undisclosed income.

It is anticipated that the meeting will also focus on the disclosures made in the tax amnesty scheme. This scheme was announced post demonetization.

Several people made huge cash deposits in their accounts after demonetization of higher denomination currency notes as they are forced to do so since they could not hide their black money in their homes.

Many currency notes were also seized by the revenue department as part of their raids throughout the country.

Income tax department has planned to take certain measures against tax evaders. ₹2,300 crore has been collected including income tax and penalty under the tax amnesty scheme post demonetization.

Meeting will also focus on reviewing direct and indirect tax collection targets and measure to be taken to improve the collections.

As the government is expecting to roll out GST from July 1 onwards, the meeting will also focus on GST as well.

Image credit: Narendra Modi image by Global Panorama is licensed under CC BY-SA 2.0

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