Bill on national tax tribunal soon

NEW DELHI: The government on Friday said a Bill to set up a national tax tribunal was slated to be introduced in the current session of Parliament.

The government had decided to constitute the national tax tribunal and accordingly, a notice for introduction of the Bill in the winter session had been given by the Law Ministry, Minister of State for Finance SS Palanimanickam told Lok Sabha in a written reply.

To another query, he said the direct and indirect tax collections had been commensurate with the expectation.

The government has recovered Rs 3,462 crore of outstanding direct tax and another Rs 560.01 crore in indirect taxes till September 30 this fiscal, he said.

According to the National Common Minimum Programme, the Centre was committed to increase the tax-GDP ratio by undertaking major tax reforms that further expand the base of tax payers, increase tax compliance and make the administration more efficient.

The Budget estimates for 2004-05 indicated an improvement in tax-GDP ratio from 9.2 per cent in 2003-04 to 10.2 per cent, he added.