Will Tax Refunds Come Earlier This Time? Here's What FM Sitharaman Said
New Delhi: As the ITR filing season picks up pace, salaried individuals are actively submitting their Income Tax Returns and many have already applied for refunds. To ensure quicker processing, Finance Minister Nirmala Sitharaman has directed senior CBIC officials to speed up ITR-related scrutiny. She also stressed the need to simplify the GST registration process for better taxpayer convenience.
Finance Minister Reviews GST and Customs Department's Work
Finance Minister Nirmala Sitharaman recently reviewed the functioning of the Central GST and Customs Department. During the meeting, she directed officials to resolve business-related complaints quickly and also focus on curbing tax evasion and wrong tax credit claims. She urged senior CBIC officials, including Chief Commissioners and Directors General to improve their efficiency and fill vacant positions without delay.
Rs 2.23 Lakh Crore in GST Evasion Detected
Officials informed the Finance Minister that by the financial year 2024–25, GST evasion worth Rs 2.23 lakh crore had been detected. Out of this, Rs 28,909 crore has been voluntarily paid by taxpayers. The Finance Minister was in discussion with senior officials of the government's indirect tax administration. The goal of the meeting was to ensure that principles like ease of doing business and ease of tax compliance remain central to the tax system. At the same time ensuring strict compliance with tax laws was also emphasised.
For the central government, reforms, reducing paperwork, and deregulation remain top priorities. The government aims to unlock the country's full economic potential. Finance Minister Nirmala Sitharaman's Budget speech on February 1 had also focused on key reforms needed across various sectors.
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