FM at the Chief Commissioner's conference
++ Government will conduct "high-impact auditing" to curb excise duty evasion. The audit would cover those assessees and sectors that are prone to tax evasion.
++ There are some concerns about excise. It is one tax where I think there is high degree of evasion.
++ Government's decision to cut import duties on edible oil would offset high global prices. It is aimed at softening the impact of high international prices.
++ The central excise department would share information with state governments on specific products, industries and cities to spot evasion and non-disclosures.
++ Central excise duty collections during the first quarter of the current financial year stood at Rs 25,161 crore against Rs 23,560 crore in the corresponding quarter of the previous year.
++ Service tax collections grew by 31.6 per cent during the first quarter of 2007-08 and stood at Rs 7,257 crore as compared to Rs 5,514 crore in the corresponding period of the previous year.
++ We are slightly behind on excise, a shade behind on service tax, but at the moment we have no grave concerns in respect to budgetary targets
++ Now, I am confident that with the economy growing at close to nine per cent, the department will be able to meet the budget estimates of Rs 2,78,013 crore