centre moves to reduce customs collection costs
New Delhi, Oct. 1 -- The government is working to reduce the elevated cost of collecting customs duties, which has risen to Rs.1.23 for every Rs.100 of revenue, even as administrative costs for collecting direct taxes and GST have fallen below Rs.0.50, people aware of the development said.
The move follows a directive from the Parliamentary Standing Committee on Finance, which last month asked the government to progressively bring customs collection costs in line with the efficiency achieved in direct taxes and GST.
The committee appreciated the reduction in the cost of collecting direct taxes and GST to Rs.0.41 and Rs.0.48 per Rs.100 of revenue, respectively, and directed the government to undertake a detailed study of the structural and o...
To read the full article or to get the complete feed from this publication, please
Contact Us.