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  • January 08, 2020

FM Sitharaman: Govt Taking Steps to Simplify Taxation

Speaking at an event organised by the Confederation of All India Traders (CAIT), the Finance Minister said the government is inviting suggestions for improving the GST filing system. Based on suggestions already received from various stakeholders, the government is taking steps towards simplification of the taxation system, she added.

In a bid to curb harassment of taxpayers, a faceless e-assessment scheme had been launched in October 2019.  The tax department implemented this scheme by creating a computer-generated document identification number (DIN) to ensure greater transparency and accountability. In this way direct interface between an assessing officer and a taxpayer was eliminated.

The DIN system will apply to all kind of communications from the income tax department, whether it is related to assessment, appeals, investigation, penalty or rectification. This system will also help taxpayers to identify fake notices and letters as the notice would be verifiable on the department's e-filing portal.

In a bid to boost trade, FM Sitharaman had announced mega shopping festivals in India, starting March 2020. These festivals are likely to be held in four Indian cities and are expected to boost sales in textiles, leather industry & promote yoga tourism. The commerce ministry is planning various themes for these festivals, ranging from gems and jewellery, textiles and leather to yoga.

 

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