Don’t kill the golden goose: Revenue Secretary stresses balanced Customs enforcement

Revenue Secretary Sanjay Malhotra has underscored the importance of exercising restraint when issuing high-pitched demand notices to businesses and industries. On Wednesday, December 4, he said that Customs duty enforcement should prioritise fostering broader economic well-being rather than focusing solely on revenue generation.

Speaking at an event, Malhotra acknowledged that Customs duty occupies a significant portion of revenue collection but cautioned against enforcement practices that could have a detrimental impact on businesses.

“Customs duty occupies a significant portion of revenue,” he said, “but high-pitched demand notices issued to trade and industry need to be sent out cautiously.”

He reiterated that the Central Board of Indirect Taxes and Customs (CBIC) is committed to balancing revenue goals with the broader economic interests of the country.

“We are not here only for revenue; we are also here for the entire economy,” Malhotra said. “For some revenue, we should not kill the golden goose.”

On Friday, Malhotra said India’s vision is to become the world’s most efficient and trusted trade hub by expanding the participation of authorised economic operators (AEOs), integrated free zones, and promoting innovative policies.

Also Read: Finance minister to start pre-Budget consultation with various stakeholders from Dec 6