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The report of the Standing Committee on Finance, which was tabled in Parliament, said the revenue department seems to be “caught up in the vicious cycle to tax arrears”, as about Rs 18.68 lakh crore in direct tax and Rs 2.95 lakh crore in indirect tax are outstanding in the form of tax arrears.
The committee noted that the finance ministry has initiated various legislative and administrative measures, besides “special efforts” to realise and recover tax arrears. Pic: Pixabay
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