Finance minister Arun Jaitley on Monday said the government would exceed the tax collection target of Rs 13.64 lakh crore for 2014-15 set in the Union Budget. The target includes both direct and indirect taxes.
“Revenue collection targets fixed for 2014-15 will not only be achieved but also surpassed,” Jaitley said, while addressing the 30th annual conference of principal chief commissioners, principal director generals (DGs), chief commissioners & DGs of the income tax department.
Earlier, the finance minister said he was hopeful that the economic situation would improve soon and this will not impact tax collection even as he proposed several concessions for tax payers. He also said that talks were on with state governments for implementation of goods and services tax (GST) by the end of 2014-15.