Finance Ministry Denies Reports Of Merging Direct And Indirect Tax Bodies
Finance Ministry said that the merger was earlier recommended by the Tax Administrative Reforms Commission but was not accepted
report claimed that the government is mulling the merger of CBDT and CBIC, tax bodies pertaining to direct and indirect taxes, respectively. The report stated that the proposal is being considered in order to " contain the costs of operations amid increasing revenue loss".
The finance ministry in its release said that the report had been published without due verification of facts and that it "creates a policy distraction".
Listen to the latest songs, only on JioSaavn.com
It further said that the merger was earlier recommended in a report of the Tax Administrative Reforms Commission (TARC), but was not accepted.
1st T20I LIVE: India Fightback Brilliantly As Natarajan Removes Maxwell