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Apathy dogs tax centre

Shome in Calcutta on Saturday. Picture by Kishor Roy Chowdhury

Calcutta, March 15: The finance ministry has expressed concern about the lukewarm response to the large taxpayer unit set up in Calcutta in October last year.

“There is tremendous potential for the unit. Unfortunately, only a handful of companies have registered and are using it. I am sure there are more firms in the region who could benefit from it. We definitely want the number to increase in the coming days,” Parthasarathi Shome, adviser to the finance minister, today said on the sidelines of an event.

A large taxpayer unit (LTU) serves as a single window to deal with multiple taxes such as central excise, income tax and service and corporation levy.

A taxpayer is eligible to get the services of an LTU if it has an advance tax liability of Rs 10 crore or more and an excise and service tax liability of Rs 5 crore or more each.

Hindustan Copper, Titagarh Wagons, United Bank and Uco Bank are among those to get enrolled in the LTU.

Tax advocate Narayan Jain, who presented a paper on developing tax culture in India at the event, said the problems faced by taxpayers regarding assessments, rectifications and refunds needed to be addressed.

 
 
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