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More large taxpayers' units likely Hyderabad
The Department of Central Excise and Customs is likely to increase the number of large taxpayers' units (LTUs) and the matter is being examined, said Mr P.C. Jha, Chairman, Central Board of Excise and Customs. Speaking at an interactive session with the members of Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) here on Friday, he said a new LTU would be set up in Kolkata before the end of this year. The LTUs facilitate payment of all three taxes (central excise, customs and service tax) by a taxpayer at a single office in a single transaction. "We have opened LTUs at Bangalore, Chennai, Mumbai and Delhi. After opening a unit at Kolkata, we may open similar units at other places," Mr Jha said. On the trends in tax collection, the official said that for the first time direct taxes overtook indirect taxes in 2007-08. ``We have a collection target of Rs 3.20 lakh crore for 2008-09 which represents a 14 per cent growth over the last fiscal," he said. [Source: The Hindu Business Line]
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