In a bid to hasten the recovery of taxes dues, the finance ministry has decided to outsource some of the jobs like valuation and auction of land, plant and machinery of tax defaulters to professional agencies.
The Central Board of Excise and Customs has also decided to allow its commissioners to seek the services of reputed valuers and auctioneers to sell off cut and polished diamonds that were confiscated during raids on tax dodgers.
Outsourcing and India: Complete Coverage
It has been observed that sale of assets like land, plant and machinery of defaulters was not yielding satisfactory results due to lack of requisite expertise both in valuation and then sale and auction of the assets, a ministry official said, adding these led to increase in excise and customs dues.
So, CBEC has decided to allow its officials to outsource the services of professional agencies for both valuation and auctions of the assets, he said.
Accordingly, CBEC has come up with a detailed procedure that has to be followed by commissioners in seeking the help of government-approved auctioneers for sale of moveable and immoveable properties.
The move comes after Finance Minister P Chidambaram asked taxmen to speed up recovery of tax arrears and dues during the All India Chief Commissioners conference in July.
Recovery of arrears and dues is part of Additonal Resource Mobilisation efforts to meet a higher tax collection target this fiscal.
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