Wed, Jun 19, 2024
The 53rd meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, is also likely to discuss the progress of the Group of Ministers (GoM) on finalising the report on Goods and Service Tax (GST) rate rationalisation.
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Sat, Jun 08, 2024
It also said components, including the frame, SIM tray, and side keys like power/volume button, when fitted/attached to the display assembly, integrated display assembly can be imported at the concessional 10 per cent customs duty.
Thu, Apr 11, 2024
The GST law was also amended via Finance Bill 2024, to say that manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1.
Sun, Mar 31, 2024
According to the guidelines, when a taxpayer is simultaneously being investigated by the state GST and DGGI officers on different subject matters, the principal commissioner will "consider the feasibility" of only one of the offices pursuing all the cases with respect to the taxpayer. The guidelines have also set a deadline for tax officers to conclude an investigation within one year of their initiation.
Sun, Feb 18, 2024
In an instruction to field officers, the CBIC said that the arrest and incident reports of smuggling and commercial frauds are not being shared or are sporadically shared by the customs zones. In some cases, the arrest report many times contains description/details that are insufficient as input for enhanced risk profiling.
Sun, Feb 11, 2024
In a statement, the Central Board of Indirect Taxes and Customs (CBIC) said the Directorate General of GST Intelligence (DGGI) has recently noticed that some individuals with fraudulent intent are creating and sending fake summons to taxpayers who may or may not be under investigation by the DGGI.
Fri, Feb 02, 2024
Budget 2024: What was achieved, what was not? What did the country get in the interim budget? Opinion of veterans on the budget, watch special conversation with CBDT Chairman Nitin Gupta and CBIC Chairman Shri Sanjay Aggarwal
Wed, Oct 25, 2023
Revenue Secretary and the CBIC Chairman will destroy 80 lakh foreign sticks worth Rs 10.06 crores.
Sun, Aug 06, 2023
Extensive use of big data analytics, introduction of faceless assessment in Customs and electronic filing of various documents, claims and payment of taxes have made this organisational restructuring a necessity, an official said.
Fri, Jun 09, 2023
Vivek Johri said that on the trade facilitation front, even though they have made very significant progress, more needs to be done.
Sat, Apr 29, 2023
In a review meeting of the CBIC, Nirmala Sitharaman directed the board to intensify its drive against fake billing and input tax credit.
Sun, Apr 16, 2023
Currently, Central Board of Indirect Taxes and Customs (CBIC) manually notifies exchange rates of 22 currencies every fortnight -- 1st and 3rd Thursday of a month -- based of rates obtained from the State Bank of India (SBI). The rate notified comes into effect from midnight of the following day.
Wed, Apr 12, 2023
After the members of the export-import trade complained of difficulties in making duty payments via ECL in the automated system, CBIC last week said that no interest would be charged on customs duty paid through ECL till April 10.
Thu, Apr 06, 2023
An upgraded Customs duty payments system was launched by the Central Board of Indirect Taxes and Customs (CBIC) on April 1. However, members of trade complained of difficulties in making duty payments over the customs automated system.
Thu, Oct 20, 2022
The finance ministry is working to integrate the Customs systems with other regulatory agencies to ensure faster clearances of export consignments, a senior official said on Thursday.
Fri, Sep 02, 2022
GST officers can now launch prosecution against offenders in cases where the amount of evasion or misuse of input tax credit is more than Rs 5 crore, the Finance Ministry has said.
Thu, Jul 14, 2022
The framework keeps in view the need for uniformity of action by customs that brings certainty for the trade. It also addresses a unique requirement of the e-commerce ecosystem for re-import of rejects in certain cases to the prescribed extent, it said
Fri, Jul 01, 2022
What does CBIC Chairman, Vivek Johri have to say on the completion of 5 years of GST? Watch an exclusive conversation with CBIC Chairman, Vivek Johri.
Thu, Apr 21, 2022
Dhanlaxmi Bank on Thursday said it has signed a memorandum of understanding with Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) for collection of taxes.
Thu, Apr 14, 2022
"Every eligible business must follow the steps given above strictly to avoid penal consequences."
Thu, Mar 03, 2022
The CBIC on Thursday cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion.
Keen to keep government deficit within stated targets, the finance ministry will from March 15 start daily monitoring of the revenue receipts, including tax collections, as well as expenditure.
Fri, Feb 25, 2022
Goods and Services Tax (GST) taxpayers whose Aggregate Annual Turnover for FY 2020-21 is more than Rs 5 crore must file their annual return in form GSTR-9 along with self-certified reconciliation statement in GSTR-9C before February 28, 2022.
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