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Finance Ministry Denies Reports Of Merging Direct And Indirect Tax Bodies


Finance Ministry has denied reports of merging CBDT and CBIC

The finance ministry on Monday denied reports of merging Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC), terming it as “factually incorrect”. Earlier in the day, a 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”.

It further said that the merger was earlier recommended in a report of the Tax Administrative Reforms Commission (TARC), but was not accepted.

“The report of TARC was examined in detail by the government and this recommendation of TARC was not accepted by the Government. As a part on an assurance made by the government in the Parliament in response to a Parliament question, the government has also placed this fact in 2018 before the Committee on Government Assurances,” the release said.
 



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