Hike in monetary limit for filing tax appeals major move to ease doing business: PM Modi
New Delhi, July 12 (IBNS): The Union Finance Ministry's decision to hike the threshold limit for tax department to file appeals in tribunals and courts is a major move to improve Ease of Doing Business and reduce litigation, Prime Minister Narendra Modi on Thursday said.
"In a major move to improve Ease of Doing Business & reduce litigation, the Government has decided to raise the monetary threshold limit for filing departmental appeals by CBDT & CBIC at various levels, including Appellate Tribunals, High Courts and the Supreme Court," Modi tweeted.
"This move will result in withdrawal of 41 per cent of total cases by CBDT & 18 per cent of total cases by CBIC. This is in line with our Government’s belief of trusting our citizens," his another tweet said.
On Wednesday, the Finance ministry hiked the threshold limit for tax departments to file appeals in tribunals and courts to significantly decrease the taxpayer grievances and litigation burden on courts across the country, Now, the tax departments — Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) — will only file appeals at the tribunal level if the tax amount involved is Rs 20 lakh or more. Till date, the threshold was set at Rs 10 lakh for filing appeals in tribunals. CBDT files appeals in ITAT (Income Tax Appellate Tribunal) while the CBIC files appeals in CESTAT (Customs, Excise and Service Tax Appellate Tribunal).
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
