Need for Transparent System to Collect Tax: Delhi Finance Minister:

Need for Transparent System to Collect Tax: Delhi Finance Minister The Delhi Finance Minister Kailash Gahlot indicated on Friday that government's need of the hour is a transparent system for tax collection and they are continuously working on identifying defaulters. Gahlot call a meeting with senior officials of department of trade and taxes before presenting the budget for Delhi. He addressed strategies to encourage trade in the city while reviewing the budget preparations. Also, he examined the initiatives taken to increase tax revenue. "In Government, the department of trade and taxes played an important role. In 2021–2022 the combined GST and VAT revenue collection was above Rs 27,000 crore, however this year we anticipate a notable increase in the collection. In addition to tax defaulting, tax evasion is a significant issue in every state." the minister stated. "As part of its ongoing efforts to identify defaulters, the government wishes to create a transparent system. Through outreach camps, regular discussions with market and trade organisations take place to lessen such issues "He continued. According to sources, the budget session for the Delhi Assembly will begin on March 17 and end on March 21. Gahlot will deliver the budget this year after being given control of the finance department following the arrest of former deputy chief minister Manish Sisodia on February 26 in connection with the excise policy case and his departure from the government. Taxes totaling Rs 31,462.6 crore, including Rs 26,096.7 crore from GST and Rs 5,365.8 crore from VAT, were collected up until February 2023. According to the Delhi government, the total tax on petroleum goods in 2022–2023 was Rs 4,169.1 crore as opposed to Rs 3,739.4 crore in 2021–2022. Also, the department is working to create key performance indicators for taking effective action against defaulters. If put into place, it will stop income leaks and thereby increase revenue collection. According to the government, it would also improve return-filing compliance and ensure that tax defaulters are dealt with.