Page 39 - ELT_1st September 2020_Vol 373_Part 5

PM launches first taxpayers’ charter
Prime Minister Narendra Modi on 13-8-2020 unveiled India’s first char-
ter of taxpayers’ rights and duties and issued a national appeal ahead of the 74th
Independence Day for introspection by citizens on the fact that only 15 million
people in a population of 1.3 billion pay Income Tax.
Modi’s appeal comes in the context of COVID-19, which has entailed a
` 20 lakh crore economic stimulus and relief package, and the 68-day lockdown
starting on March 25 that closed business establishments, took public transport
off the roads and suspended production in all sectors barring those considered
essential, such as pharmaceuticals and food processing. With the economy taking
a hit, Government revenues are expected to come under pressure. According to
the Controller General of Accounts, the Government’s actual revenue receipts in
the first quarter of the current Financial Year were ` 1.5 lakh crore, which is 7.4%
of the total budget estimate of around ` 20.21 lakh crore for 2020-21. Combined
collections of Corporate Tax (` 54,212 crore) and Income Tax (` 62,123 crore) in
the quarter ended June were 30.57% less than the figure in the same period last
year. Collection of Goods and Services Tax (GST) in the first three months of
current financial year amounted to ` 98,888 crore, 54.32% less than in the year-
ago period. Collection of Customs and Central Excise, at ` 50,763 crore, dropped
33.59% from a year ago.
Taxation reforms in the last six years have been centred on three con-
cepts - seamless, painless and faceless - that have reduced complexities, cut tax
rates and litigation, Modi said. He also called for introspection by citizens on the
small pool of taxpayers.
[Source : Hindustan Times, New Delhi, dated 14-8-2020]

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EXCISE LAW TIMES  1st September 2020  39