Business News

Income tax, GST offices to remain open on March 30, 31 to facilitate year-end collection


Tax offices, for both income tax and GST, will remain open on Saturday and Sunday as the departments race against time to meet the revenue collection targets. “As per past practice, all field offices of CBIC (Central Board of Indirect Taxes and Customs) will remain open during the last weekend of the current financial year also March 30 and March 31, 2019, for assisting the taxpayers in all matters,” CBIC said in an office memorandum.

In an office order, the Central Board of Direct Taxes (CBDT) asked its field offices to facilitate filing of tax-returns by the taxpayers by opening additional receipt counters, wherever required, on March 30 and 31.

“The last date for filing belated/revised tax-returns for assessment year 2018-19 is March 31, 2019. The financial year 2018-19 also closes on (March) 31. In view of the closed holidays March 30 and 31, being Saturday and Sunday, Income Tax Offices throughout India (including the ASK Centres), shall remain open on March 30 and 31 during normal office hours,” the CBDT said.

The government has pegged goods and services tax (GST) collection target at Rs 11.47 lakh crore in the current fiscal, while the same for direct tax mop up is Rs 12 lakh crore.

GST collections in the current fiscal till February totalled Rs 10.70 lakh crore.

With regard to direct taxes, the CBDT had collected only Rs 10.21 lakh crore as on March 23, which is 85.1 per cent of the revised estimate of Rs 12 lakh crore. The apex policy making body for income and corporate taxes has asked its field offices to “take all possible actions” to achieve the collection targets.

The Reserve Bank of India has also asked banks keep their branches open on March 31, so that all government transactions for financial year 2018-19 are accounted for within the same financial year. All electronic transactions, including RTGS and NEFT, will continue for the extended time on March 30 and March 31, 2019.




Source

Prakash Poojary
Business Analyst

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