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Special elections are confusing, chaotic messes that bleed taxpayers &mdash; and could often be avoided if politicians quit before leveling up, flaming out, or dropping dead

New Delhi, Apr 9 () With about Rs 18,000 crore of refund claims stuck, the CBIC on Thursday said it has launched a special drive to facilitate disposal of all such pending claims. The 'Special Refund and Drawback Disposal Drive', which will go on till month end, will ensure priority processing and disposal of all pending refund and drawback claims that are pending as on April 7. "The focus on refunds and drawback is aimed at providing immediate relief to the business entities, especially MSMEs, which makes it an imperative to ensure that there are no delays," the Central Board of Indirect Taxes and Customs (CBIC) said in a letter to Principle Chief Commissioners of Customs and Central Tax. "For facilitation of exporters, all communication should be done over e-mail wherever email id of the applicant is available," the CBIC said, adding due diligence will be done before sanctioning any refund claims. The Finance Ministry had on Wednesday said that to provide relief during COVID-19 it has decided to issue all pending GST and Custom refunds which would benefit around 1 lakh business entities, including MSME. "Thus, the total refund granted will be approximately Rs 18,000 crore," it had said. Principle Chief Commissioner/Chief Commissioners of Customs, Central Tax will monitor the refund claim settlement on a daily basis. JD RVK

COVID-19 relief: CBIC launches drive for faster clearance of refund claims

The Odisha government on Monday said e-commerce and online <keyword id="177919" type="PERSON" weightage="20" keywordseo="platforms">platforms</keyword> can resume operations in the second phase of the lockdown beginning April 15. <keyword id="27553" type="COMPANY" weightage="20" keywordseo="special">Special</keyword> Relief Commissioner (SRC) Pradeep Jena said that home <keyword id="6355447" type="PERSON" weightage="20" keywordseo="delivery">delivery</keyword> of all kinds of products and courier services by platforms like Amazon, Flipkart, <keyword id="6359949" type="DOMAIN" weightage="20" keywordseo="blue-dart">Blue Dart</keyword>, DTDC and BigBasket would be allowed. Odisha is the first state to extend the lockdown till April 30. Earlier, the government had given permission for delivery of food through online delivery operators and <keyword id="6372044" type="UNKNOWN" weightage="20" keywordseo="grocery">grocery</keyword> by several outlets. Odisha has reported 54 coronavirus positive cases so far. Of these, 13 have recovered whereas one person succumbed to the disease. Now, the active cases are 40 in the state. SEE ALSO:<a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-quickly-expands-its-grocery-delivery-to-125-cities/articleshow/75121252.cms" data-type="tilCustomLink"> Swiggy quickly expands its grocery delivery to 125 cities</a>

Odisha allows e-commerce platforms to resume operations

New Delhi, Jan 3 () Revenue Secretary Ajay Bhushan Pandey on Friday held a meeting with senior tax officials and asked them to put forward special efforts to check evasion and meet the target set for the current fiscal.
It may be recalled, the finance ministry last month had put its GST tax mop up target at Rs 4.45 lakh crore for the remaining period of this fiscal, with Rs 1.1 lakh crore GST collection target for three months and Rs 1.25 lakh crore in a single month.
Direct tax collection target for the current fiscal has been pegged at Rs 13.35 lakh crore despite corporate tax relief of 1.45 lakh crore.
It was decided in the meeting in presence of CBIC and CBDT Chairmen and members to have weekly update on the efforts taken up for revenue augmentation measures and endeavours put to realize the targets, sources said.
Red flag reports generated through the system will have to be taken to their logical conclusions without overreach in a stipulated timeframe and regular updates have to be submitted, the sources said.
Field formations under the Principal Chief Commissioners and Chief Commissioners and Members of both the Boards will have to report weekly either in physical meetings or on video conferencing on their efforts being put in the field to curb tax evasion and leakages, action taken on checking fake or huge ITC claims, mismatch in returns filed, etc, they added.
Officials have been given directions to put forward special efforts to identify and initiate actions against wilful tax evaders or those using fake invoices or inflated or fake e-way Bills, according to the sources.
However, officials were asked to ensure that the genuine taxpayers should not be troubled, and officials were also told to communicate with them that they must genuinely file their taxes before the taxman/notice reaches them.
The meeting was to further strengthen the efforts to exhort the tax machinery to put up special efforts to stop leakages and curb tax evasion to maximise tax collection without troubling the genuine taxpayers.
The meeting was attended by senior officials of CBIC and CBDT, including Chairmen, and members of both the Boards to strategise and streamline the field functions using data analytics and fix specific responsibilities on the officers. DP BAL

Revenue Secy asks tax officials to put special effort to check evasion, meet target

The <a href="http://www.businessinsider.in/searchresult.cms?query=Special+Investigation+Team">Special Investigation Team (SIT)</a> is leaving no stone unturned to unearth <a href="http://www.businessinsider.in/searchresult.cms?query=black+money">black money</a> and the tax authorities are in a haste to file cases against people having illicit money stashed abroad. Following this, the foreign bank account holders are now under pressure and crowding tax tribunals to either stop persecution or to disclose their names. 
 
However, as per lawyers and chartered accountants, the tax authorities are showing inappropriate haste in filing criminal cases for concealment of income, even when appeals are pending before adjudicatory forums. 
 The name of KK Modi, chairman of Modi group, allegedly appeared in the <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword> list after which he moved the <a href="http://www.businessinsider.in/searchresult.cms?query=ITAT">Income Tax Appellate Tribunal (ITAT)</a> seeking a stay on prosecution proceedings initiated against him. Modi denied any comment and said that he was not aware of any such account in any foreign bank which has around Rs 3 crore deposited. 
 As per an <keyword id="6354751" type="COMPANY" weightage="20" keywordseo="Income-Tax">income tax</keyword> officials aware of the matter, Modi has paid taxes under protest but refused to sign the consent form. The matter was presented in front of the <keyword id="6402350" type="ORGANIZATION" weightage="20" keywordseo="ITAT">ITAT</keyword> last week and another date has been fixed for the hearing. 
 
Meanwhile, in June this year, the tax authorities issued a show-cause notice, under Sections 276 (c) and 276 (d) of IT Act, for initiation of prosecution proceedings for alleged concealment of income. A questionnaire was sent to Modi's office, requesting a formal response, but his spokesman Harmanjit Singh refused to comment. 
 Modi’s advocate in ITAT, senior advocate Ajay Vohra also refused to comment on the matter. The <keyword id="65338" type="ORGANIZATION" weightage="20" keywordseo="Income-Tax-Department">Income Tax Department</keyword>'s representative questioned the jurisdiction of ITAT to hear the petition by Modi seeking a stay, since the matter had to do with a criminal case. 
 
The representative informed the tribunal that "on the Swiss account, Mr Modi's address is there, mobile number is there, we conducted a search, he conceded and paid taxes but they are refusing to own up the transaction, and also refusing to sign the consent form." However, Modi's lawyer denied owning the account. "When the Swiss account doesn't belong to me, I have no locus to sign the consent form." He also informed the tribunal that his appeal has been dismissed by CIT (Appeals). 
 
However, according to official sources, the ITD had initiated prosecution proceedings against Modi, even before the appeal could be disposed of by CIT (Appeals). 
 
Similarly, in cases of Sanjiv Gupta, Pradip Burman, Rear Admiral PN Aggarwal, all foreign account holders, appeals were pending before CIT (appeals), but criminal proceedings were initiated against them. This issue also figured in Bishwanath Garodia's case, another HSBC account holder, who has got relief from Calcutta high court. 
 
The court order, reviewed by Economic Times says, no steps can be taken against Garodia, "till the appeal pending before the Commissioner (appeals) is disposed of." 
 
On May 7, this year CJM Alipore had issued summons against Bagrodia, on a complaint filed under section 276 (c), by tax authorities. Garodia had claimed that the "issue regarding the alleged concealment of income by the writ petitioner by maintaining an account with HSBC, Geneva, Switzerland is sub judice before the Commissioner (Appeals) Central -21, Kolkata." 
 The high court order also mentioned about an SC observation in Commissioner of Income Tax vs Bhupen Champak Lal Dalal case, wherein the apex court affirmed the order of the <keyword id="48485" type="ORGANIZATION" weightage="20" keywordseo="Bombay-high-court">Bombay High Court</keyword>, staying criminal proceedings. It said, "when ultimately the result to come out of the proceedings before the appellate authorities would have a definite bearing on the cases alleged against the respondents, we find that the high court order is justified in granting the interim order it did." 
 
Image: thinkstock

Black Money: Foreign bank account holders accuse tax authorities of haste in filing complaints

The government has officially announced October 1, 2024, as the starting date for <keyword id="23245808" type="General" weightage="100" keywordseo="Vivad-Se-Vishwas-2-0" source="keywords">Vivad Se Vishwas 2.0</keyword>, the direct tax dispute resolution scheme. If you're involved in a tax dispute, this scheme might be your chance to resolve it efficiently. Originally introduced during the 2024-25 Union Budget, the scheme is designed to handle <keyword id="22518437" type="General" weightage="20" keywordseo="income-tax-disputes" source="keywords">income tax disputes</keyword> that are currently tied up in appeals. Confirming the news, the <keyword id="19900485" type="General" weightage="20" keywordseo="Finance-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Ministry" meta.hostid="261" meta.entityid="Finance Ministry">finance ministry</keyword> said in its notification: "The central government hereby appoints the 1st day of October, 2024 as the date on which the Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force." <h2>The scope of the disputes</h2>To give you an idea of the scale, about 2.7 crore direct tax demands are currently being contested, amounting to a staggering Rs 35 lakh crore. These disputes are scattered across various legal forums, and Vivad Se Vishwas 2.0 aims to help clear this backlog. <div type="Article" hostid="261" msid="113444994" title="In the long run, rate cut by Fed will be favourable for most US banks: Moody&amp;#39;s" mstype="2" mssubtype="0"></div>In her Budget speech, <keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> highlighted the government’s dedication to simplifying taxes and minimising litigation. She said, "The government will continue its efforts to simplify taxes, improve <keyword id="20404572" type="General" weightage="20" keywordseo="taxpayer-services" source="keywords">taxpayer services</keyword>, provide tax certainty and reduce litigation while enhancing revenues." <h2>Who can avail the scheme?</h2>If you have any pending disputes or appeals, including writs and special leave petitions, whether filed by you or the tax authorities, as of July 22, 2024, you are eligible to take advantage of this scheme. The list of eligible cases includes those pending before the Supreme Court, high courts, Income Tax Appellate Tribunal, and Commissioner/Joint Commissioner (Appeals). It also covers cases before the Dispute Resolution Panel (DRP) and revision petitions awaiting a decision from the Commissioner of Income Tax. <div type="Article" hostid="261" msid="113417255" title="Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028" mstype="2" mssubtype="0"></div>However, the window to decide whether or not to participate in the scheme is limited. As Karishma R. Phatarphekar, Partner at <keyword id="20006170" type="General" weightage="20" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword>, said: "Given the limited time window, an informed decision on opting for the scheme should be made promptly." The rules and forms for the scheme are expected to be published "imminently in the coming week." <h2>Success of the original Vivad Se Vishwas</h2>For those who are wondering about the potential impact, the first Vivad Se Vishwas scheme, introduced in 2020, resolved a significant number of cases. More than 1 lakh taxpayers participated, and the government collected about Rs 75,000 crore in taxes. With this track record, the expectations from Vivad Se Vishwas 2.0 are high. With October 1 just around the corner, now is the time to prepare if you are considering resolving your tax dispute through Vivad Se Vishwas 2.0. As the rules and forms are expected shortly, it’s wise to consult your <keyword id="23245810" type="General" weightage="20" keywordseo="tax-advisor" source="keywords">tax advisor</keyword> and make a decision soon. This scheme could provide the relief you’ve been waiting for while contributing to a more efficient tax system for all. (With inputs from PTI)

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Special elections are confusing, chaotic messes that bleed taxpayers and could often be avoided if politicians quit before leveling up, flaming out, or dropping dead

Grace Panetta

COVID-19 relief: CBIC launches drive for faster clearance of refund claims

PTI

Odisha allows e-commerce platforms to resume operations

IANS

Revenue Secy asks tax officials to put special effort to check evasion, meet target

PTI

Black Money: Foreign bank account holders accuse tax authorities of haste in filing complaints

BI India Bureau

New Vivad Se Vishwas 2.0 tax resolution scheme to start on Oct 1 — what you need to know

BI India Bureau

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