Govt expecting very robust tax revenue this fiscal: Revenue Secretary Tarun Bajaj

The govt. is focusing on bringing more people under the tax net rather than increasing the tax rate

The government is expecting a “very, very robust” tax revenue in the current fiscal on the back of better-than-expected corporate sector performance, Revenue Secretary, Tarun Bajaj, said on August 11. Acknowledging that high GST rates are impacting the automotive sector, Mr. Bajaj said that the GST Council would look at solutions to bring down the rates, take out certain items from the tax-exempt category and correct the inverted duty structure. “It is not that we have increased the taxes, or we have become more intrusive and we are coming to you asking to pay more taxes... the happy thing behind this is, perhaps the corporate sector is doing better than what we had anticipated it to,” Mr. Bajaj said at a CII annual session.