Experts indicate that this figure could be higher if India was a tax-compliant society
Words: FWD Media Images: Various sources
The government expects to collect Rs 19-20 lakh crore in direct and indirect taxes in 2017-18 said Finance Minister Arun Jaitley.
The amount will be increased if greater compliance was ensured. Last year, government collected over Rs 17.10 lakh crore which was recorded highest in six years.
Speaking at the Enforcement Day celebrations, he noted that experts can indicate that this figure could be higher if India was a tax-compliant society. Arun Jaitley has asked the Enforcement Directorate (ED) to strictly penalise offenders, Jaitley said that the government agency should set an example so that people realise the benefit of voluntary compliance.
“I hope in the period to come, ED will strictly enforce the law to raise legitimate revenue which is in larger public interest, which can only be achieved by ensuring voluntary compliance of the people,” he said.
“Over next few years, we seek to evolve from developing to developed state and compliance in tax laws has been a feature of developed states,” he added. Jaitley said that more and more countries were becoming tax compliant with the use of IT and other technology as detection has been made easier.