Nirmala Sitharaman lists down measures to tackle tax appeal for pre-GST cases

Union Minister of Finance, Nirmala Sitharaman while speaking at ‘Republic Summit 2019’ assured people that she would pump money into Indian ecomy by ways and means suggested during budget to eventually make India a 5 trillion-dollar ecomy. This comes as an audience member and participant Mohandas Pai asked Nirmala Sitharaman about her plans on making India a huge ecomy amidst wide G-sec and repo rate in country.  He also put forth worries of longstanding cases on tax assessment before her and asked her to develop a smoot appeal mechanism. 

Mohandas Pai puts forth his queries before Finance Minister 

Padma Shri Awardee, Mohandas Pai, who participated in ‘Republic Summit 2019’ asked Union Minister of Finance, Nirmala Sitharaman about “6.5 lakh crores stuck up in tax disputes in courts”. He said that “cases in courts keep on getting adjourned because of absence of authorities from Finance ministry. Indian citizens along with International community does t have faith in tax assessment system. India had a broken assessment system and I credited you (Finance Minister) for fixing it. But at same time, I want to request you (Minister) to look after appeal system and said that appeal system has been broken for 15 years.” Apart from this, he put forth ar question about 5 trillion-dollar ecomy and said that India doesn't have eugh resources to become that, he claimed that G-sec rate and repo rate are very wide showing lack of money. Pai while saying all of this asked if government was willing to issue bonds 30 to 50 years on international bonds from any country to raise money.  

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Nirmala Sitharaman on 5 trillion-dollar ecomy & tax assessment 

Finance Minister Nirmala Sitharaman while responding to this question said that “When it comes to money t being available, I have made some anuncements in budget and we will certainly follow that up. As regards to pending cases that are in court, particularly cases of pre-GST era have been hanging. I have made it a point to tell that re will be a cheque box system through which clients mselves can say, this is how much is due, your claim is this and I am willing to settle down for this much and we are willing to go. That is called by larger name of ‘Sabka Vishwas’. deadline for that is December 31. Whoever wants to come up for that scheme, it is a transparent process of settling. With regards to or cases, I have just asked ministry to review what is total number of cases, where are y pending, and how much is due from m. I am sure I will work out something for that also.” 

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