New Delhi: With the implementation of the historic Goods and Services Tax (GST) bill, the government expects that the rate of tax evasion will reduce and doing business in the country will be eased.
Finance Minister Arun Jaitley on Saturday, while speaking specifically on the matter of tax evasion, said that the government has taken appropriate steps to curb tax evasion in the country.
“From HSBC list, Tax assessment for 8,000 cr has been completed,” said the Minister.
Claiming that Rs 56,378 crore in undetected income had been uncovered through search operations, Arun Jaitley said, “Under tabulation 64,275 declarants and the amount they have disclosed collectively Rs. 65,250 cr.”
However, the minister said that the figure of the mentioned facts should be taken tentatively and would be revised upward upon final tabulation.