"IS IT POSSIBLE TO COLLECT DEFERMENT TAX RS.1,000/- CRORE BY 30TH JUNE,2017"?

Q:"IS IT POSSIBLE TO COLLECT DEFERMENT TAX RS.1,000/- CRORE  BY 30TH JUNE,2017"?

A: Yes, It is possible.

I would like to give few suggestions to collect 'Deferment Tax' about Rs.1,000 crores, on or before 30^th June’2017, in the interest of the Telangana State.

01.First, the Commercial Tax Department (CTD) higher authorities and the Govt. must give the opportunity to the dealers  as per the Govt. Norms in between 12% to 18% or any other discount rate and encourage the dealers to pay immediately.

02. Secondly, out of ‘Deferment Tax’ balance dues, arrange to segregate the genuine Tax dues and disputed Tax dues (some are in Court cases, Refund adjustments etc.,).

03.Thirdly, out of genuine Tax dues, arrange to list out only big amounts and creditable dealers.

04.Finally, After arriving final Tax figures, by passing G.O/Circular, arrange to talk to the concerned Bank Chairmen(s)/Directors and ‘Take the loans by convincing them against final deferment Tax amounts’. So that the department need not offer even single percent of discount to the dealers. Here the department need not ask the dealers to pay and  need not disturb the dealers & their business. Dealers also need not sign anywhere. If required, the department may take an agreement with the dealers and the same  may be submited to the Bankers. As usual regular ‘Deferment Tax collections’, the CTD may repay the Bank Loans.  After demonetisation, Banks having huge amount of deposits in the clients accounts. Hence, they are reducing deposits rates day by day, now it is 6.25% on 1 to 2 years fixed deposits. Any how, the CTD have the full rights to collect the taxes in regular periods from the dealers under Land & Revenue Act. The CTD have full security on dealers assets and Bank accounts. This the CTD have to convince the Bankers as well as Govt.

I am sure that, what the Commecial Tax Department is  going to pay interest to the banks is will be lesser  than , now what the department is  going to offer discount to the dealers.

Now the purpose will be solved and the Govt. will get more compensation from the 'Central Govt.' for the next 5 years, based on this year collections, since  the 'Goods and Services Tax ' (GST) is going to implement w.e.f 01.07.2017, through out India.

I hope, if  the  above my suggestion is implemented, the Commercial Tax department  may collect  more than Rs.1,000/- crores by 30th June,2017 and the department may not loose the discount amount and department need not disturb dealers and their business. Every thing will be smooth.

All the success.
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