Rs 14,131.6 cr recovered from sale of Vijay Mallya’s assets: Sitharaman
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
Marking a significant step in strengthening the enforcement mechanism in Goods and Services Tax (GST), Department of Revenue is organising a National Conference of Enforcement Chiefs of all State and Central Goods and Services Tax (GST) formations in New Delhi on Monday.
Union Minister for Finance Nirmala Sitharaman will inaugurate the one-day conference and will also deliver the keynote address.
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The conference will hold comprehensive deliberations on:
–Combating GST Evasion: Examining current challenges and delving into successful methodologies employed by both State and Central enforcement authorities;
–Combating Fake Invoicing: Addressing this primary form of GST evasion and strategising effective methods to combat it collaboratively;
–Sharing Best Practices: Encouraging knowledge exchange through presentations by State and Central enforcement heads, showcasing their most successful strategies and innovative approaches for tackling tax evasion;
–Fostering Synergy: Building deeper collaboration and fostering greater synergy between State and Central enforcement authorities, ensuring a unified and comprehensive approach;
–Leveraging Technology and Data: Exploring the potential of advanced technological tools and data analytics to enhance the accuracy and efficiency of enforcement efforts;
–Balancing Ease of Doing Business: Striking a crucial equilibrium between facilitating a smooth business environment and implementing effective, deterrent enforcement measures; and
–Embracing the spirit of cooperative federalism as exemplified by GST, this conference serves as a valuable platform for both Centre and State GST Enforcement authorities to share best practices, foster mutual learning, and collectively strengthen the GST administration.
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