Sun, Jul 07, 2019
Union Budget gives more powers to customs officers. The Budget proposal has authorised customs officers to detain a person for verification in the interest of revenue or for preventing smuggling has serious scope for misuse, according to a IANS report.
Sun, May 20, 2018
The revenue department has made unique identity number Aadhaar and PAN mandatory for persons seeking a customs broker licence, according to a notification
Sun, Apr 01, 2018
Through Finance Bill, 2018, the government amended the Central Boards of Revenue (CBR) Act, 1963, as well as the Central Goods and Services Tax Act, 2017, replacing CBEC with CBIC. The re-organisation of field formations of the CBEC for implementation of GST, and its renaming to CBIC was approved by Finance Minister Arun Jaitley in March last year.
Sat, Mar 24, 2018
The Central Board of Excise and Customs (CBEC) has also notified the requirement of filing summary return GSTR-3B till June. The GSTR-3B for a month is required to be filed by the 20th day of the succeeding month. The GST Council, headed by Finance Minister Arun Jaitley and comprising his state counterparts, had in its meeting on March 10 decided on e-way bill roll out and extension of 3B filing facility
Thu, Mar 22, 2018
According to the sources, preliminary scrutiny indicated that several newly created LLPs and HUFs as well as proprietary firms have claimed transitional credit for which they were not eligible. The CBEC has already asked chief commissioners to scrutinise all transitional credit claims of over Rs 1 crore. As part of transition to GST last July, taxpayers were allowed to file Form TRAN-1 and avail tax credit on the basis of closing balance of the credit declared in the last return under the pre-GST regime.
Tue, Feb 13, 2018
Imported motorcycles from high- end brands, including Harley Davidson and Triumph, are set to get cheaper as the government slashed customs duty to 50 per cent.
Thu, Dec 07, 2017
In a bid to provide relief to consumers and corporates, the GST council's 23rd meeting has decided to slash tax rate of nearly 178 items from the higher slab of 28%.
Sun, Dec 03, 2017
The Central Board of Excise and Customs (CBEC) had last month started refunds for exporters of goods who have paid IGST and have claimed refund based on shipping bill by filling up Table 6A.
Tue, Nov 21, 2017
CBEC Chairperson Vanaja Sarna has written to FMCG companies asking them to immediately revise MRP on all products in line with the latest reduction in GST rates.
Sun, Nov 19, 2017
Top domain experts and officials from the GST Intelligence and the Central Board of Excise and Customs (CBEC) briefed judges about the new tax system recently, according to documents available in the public domain.
Sat, Nov 11, 2017
GST, which came into play on July 1, 2017, has four tax slabs - 5%, 12%, 18% and 28%. Almost 227 items were there in 28% GST slab, now only 50 remain, which are mostly luxury items, rest have been put in 18%.
Sat, Sep 02, 2017
Since coming to power in May 2014, Prime Minister Narendra Modi has assured taxpayers that he will remove the fear of tax officials hounding them by ushering in accountability and answerability.
Sun, Jun 25, 2017
Rechristening the Central Board of Excise and Customs (CBEC) may not come about immediately as the revenue department may introduce amendments to at least five Acts only in the upcoming monsoon session next month.
Mon, May 29, 2017
With just over a month left for GST implementation, the revenue department today started a new twitter handle to answer industry queries related to the new indirect tax regime.
Wed, May 17, 2017
In a letter to the zonal heads, the human resource arm of the CBEC said the Directorate General of GST Intelligence (DGGSTI) will be the new name of the existing Directorate General of Central Excise Intelligence (DGCEI), but with more powers.
Mon, Apr 03, 2017
The government has sought comments from industry on the 4 set of new rules on -- GST Composition, GST Valuation, GST Transition and GST ITC.
Sun, Feb 26, 2017
"In order to ensure smooth transition to GST framework, the Drawback Committee is to formulate and recommend revised All Industry Rates (AIRs) of drawback on rebate to be implemented for exports in the context of new GST environment," it said.
Thu, Feb 09, 2017
The service tax department of CBEC issued summon to Mirza on February 6 in connection with tax evasion or non payment of dues, as reported by PTI.
Fri, Jan 27, 2017
Ahead of the rollout of GST, Finance Minister Arun Jaitley on Friday sought to address concerns of job loss from reduced work of tax officials, saying they should have no insecurity as enough work and opportunities will be available to them in the new indirect tax regime.
Mon, Jan 09, 2017
With a goal to meet the government's aim of meeting April 1 deadline for implementing GST across India, the CBEC has initiated the process of migration of its existing central excise and service tax assesses to the new tax regime with effect from Monday.
Sun, Jan 08, 2017
The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.
Tue, Sep 27, 2016
Moving at a fast pace, the tax department on Tuesday came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.
Mon, Sep 26, 2016
In less than a week after the first meeting of the GST Council, the tax department on Monday came out with three draft rules and their formats relating to registration, invoice and payments which would be finalised by week-end.
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