CBEC 3Q results out – Tall claims!
If CBEC's shares were quoted in the stock exchange, there would have been a steep fall in the price. The CBEC has released a press release through the PIB giving itself full credit for a commendable performance during the nine months of the present fiscal year. The CBEC has chosen to release the press note through the PIB and not through its own website. Many in the Board does not really know how the departmental website functions!
The statistics provided shows that the excise revenue stood at 68426 crores compared to 63617 for the same period in the previous year. And Service Tax collections were 8220 crores compared to the previous year. The press release of course does not mention that as per the budget estimates, about 82000 crores under Central Excise and about 11000 crores in Service Tax should have been collected by December end. The collections as of now are alarmingly below the estimates of the Finance Minister as per his budget. This means that as of now the CBEC has offered about 17,000 crores less than what the Finance Minister expected.
Nothing wrong. Revenue does not come because of the revenue officers, it does in spite of them. The annual tamasha of commissioners and above taking credit for reaching the target by hook or crook is a big farce, but here is a Board which goes about flaunting its failure to reach up to the expectations of the Finance Minister. The press release goes on to boast that notices have been issued demanding excise duty to the tune of 1641 crores. It is almost certain that out of this 1641 crores not even 164 crores will be confirmed. Can the Board tell the world what was the demanded amount say five years ago in the year 1999-2000 and how much was confirmed in the last five years?
The funniest part of the press release is that the department takes credit for seizing sea lions!. We had reported the farce about sea lions- how they landed up in Sahar- how they went on to Kolkotta- how they were seized in Kolkotta- and how they were performing in the circus when last heard- and how the department got rapped by animal activists!