Rajasthan nod for tax settlement board

JAIPUR: The Rajasthan cabinet has approved the constitution of a tax settlement board, the proposal for which was pending before the government for a long time. The constitution of the board, which will be on the line of Lok Adalat is expected to dispose of a large number of cases related to commercial taxes.
According to official sources, the settlement of the cases would result into a net accrual of over Rs 500 crore to the government, once the board comes into operation. The government’s proposal has been welcomed by a cross-section of trade and commerce. The realisation of tax amounts from individuals or companies, now locked up in various cases, would provide a great relief to the government, which is totally cash-starved at the moment.
For the current fiscal, revenue from taxes is likely to be below the budget estimates due to drought and economic slowdown. The closure of mines, ordered by the Supreme Court, may further affect tax collection.
The government’s other revenue-raising measures like introduction of online lottery could not take off. The matter is reportedly pending before the chief minister for clearance. The introduction of online lottery would have resulted in an additional revenue of Rs 50 crore if it were cleared by the government at the right time.