- Sure to increase tax base if everyone pays taxes properly
- Number of tax forms reduced from 495 to 17-18 after GST was implemented
Economic Affairs Secretary Ajay Bhushan Pandey says that if there is an increase in the tax base, the GST rates could be reduced further. Pandey says that if the tax laws are enforced and everyone pays the tax properly then it is certain to increase the tax base. If this happens, there is great potential for tax reduction.
Target to have maximum tax collection
Speaking at a conference organized by industry organization FICCI, Pandey said that the government is fully aware of this and works are being done keeping this in mind. He said that our only goal should be to collect maximum tax at low rates. He said that the government should collect tax because it is very important. There is a significant need to increase the tax base for more tax collection.
Work on reducing form under GST
Pandey said that the government is working towards reducing the form under GST. Before GST, there were 495 forms for 17 types of tax. After the implementation of GST, the number of these forms has come down to 17-18. He said that there is a preparation for further reduction in this. Due to the IT based platform, there is no more Inspector Raj and GST is completely face-less.
Tax profile can be provided to tax payers
Referring to the new step taken for income tax assessment, Pandey said that the government is promoting self-compliance. He said that the government is working on providing complete tax profile to all tax payers. It will contain information related to tax payers so that it can be shared in a safe and secure manner, looking at complete personal privacy. If this happens, then it will be easy to get loans from banks also. He said that all information is being integrated for the benefit of the people.
