Don't overreach, overstate; act with a bit of restraint, says Finance Minister Nirmala Sitharaman to tax authorities

Tax authorities were asked to observe a “bit of restraint” and not to “overreach” while going about tax collection. Union Finance Minister Nirmala Sitharaman revealed this on Tuesday after meeting with officials of the Central Board of Indirect Taxes, Customs, Income Tax Department, GST and representatives from trade associations in Pune.

#StateOfTheEconomy | Finance Minister @nsitharaman says deadlines given to tax authorities are not impossible but achievable; have requested them not to overreach pic.twitter.com/oWAljGG4VP

— CNBC-TV18 (@CNBCTV18Live) August 27, 2019

“Businesses create jobs, create wealth for the country and therefore it is important for tax administrators to facilitate them while doing their job of tax collection and enforcing the tax rules,” she said. “We have decided with the consultation with all authorities that the deadlines for the targets are not impossible….they are achievable deadlines, they are realistic deadlines and therefore my request to the tax collectors was not to overreach, not to overstate in the collection process,” she said. Meeting targets within deadlines was achievable even if they go about it with a bit of a “restraint”, the minister added. Prime Minister Narendra Modi had stated in his Independence day speech that the country values small, medium, micro, nano and large entrepreneurs, she said. “We want them to carry on with their business without any worry,” she said.

#StateOfTheEconomy | Finance Minister @nsitharaman says we want entrepreneurs to work without any worry pic.twitter.com/sJnRZ6Ueo5

— CNBC-TV18 (@CNBCTV18Live) August 27, 2019

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“Today we interacted with trade associations, trade bodies and tax administrators and the focus was on GST, forms related to GST matters, deadlines, simplification of forms in GST matters. There were sectors which wanted GST to be brought down,” she added. To a question about GST reduction, Sitharaman said she was willing to hear everybody, “but it is not in my hands as it has to go to the GST Council”. --With PTI inputs