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Central Board of Indirect Taxes and Customs (CBIC)

Automobile dealers can claim ITC on demo cars used for promoting sales: CBIC

Automobile dealers can claim ITC on demo cars used for promoting sales: CBIC

Fri, Sep 13, 2024

These vehicles are purchased by the authorised dealers from the vehicle manufacturers against tax invoices and are typically reflected as capital assets in books of account of the authorized dealers.

GST suppliers giving post-sale discount have to take undertaking from clients: CBIC

GST suppliers giving post-sale discount have to take undertaking from clients: CBIC

Thu, Jun 27, 2024

Till the time a functionality is made available on the common portal to enable the suppliers as well as the tax officers to verify the reversal, the supplier may procure a certificate from the recipient of the supply, issued by the Chartered Accountant (CA) or the Cost Accountant (CMA), certifying that the recipient has made the required proportionate reversal of ITC at his end in respect of such credit note issued by the supplier.

Seven years of GST has lowered taxes and improved lives of 140 crore Indians: Prime Minister

Seven years of GST has lowered taxes and improved lives of 140 crore Indians: Prime Minister

Mon, Jun 24, 2024

"For us, reforms are a means to improve the lives of 140 crore Indians. After the introduction of GST, goods for household use have become much cheaper."

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Attention GST taxpayers! Last due date for filing under this category today - See other details

Attention GST taxpayers! Last due date for filing under this category today - See other details

Mon, Dec 13, 2021

GST taxpayers, who opted for the Quarterly Return Monthly Payment Scheme (QRMP) scheme, must note that today, December 13, 2021 is the last date for uploading the B2B invoices for November 2021.

Attention GST taxpayers! Last date for filing returns under these categories today - Check details here

Attention GST taxpayers! Last date for filing returns under these categories today - Check details here

Wed, Oct 20, 2021

The GST taxpayers must note that there are some important updates for them. The last date for filing GST returns under various categories is today, October 20, 2021.

Form GST ITC-04: Relaxation in requirements of filing Job Work declaration with effect from October 1, says CBIC

Form GST ITC-04: Relaxation in requirements of filing Job Work declaration with effect from October 1, says CBIC

Wed, Sep 29, 2021

The Central Board of Indirect Taxes and Customs (CBIC) has informed that the relaxation in requirements of filing Job Work declaration in Form GST ITC-04 will be with effect from October 1, 2021.

Faceless assessment in customs clearance: CBIC says 90 per cent of non-risky import consignments to be cleared within hours without any physical interface

Faceless assessment in customs clearance: CBIC says 90 per cent of non-risky import consignments to be cleared within hours without any physical interface

Sat, Jul 10, 2021

The Central Board of indirect Taxes and Customs (CBIC) has taken further steps to streamline the faceless assessment mechanism put in place in the customs clearance processes and has decided that up to 90 per cent of non-risky import consignments would be cleared within hours without any physical interface.

Income Tax alert! Small and medium textiles exporters urge Modi government to introduce this system

Income Tax alert! Small and medium textiles exporters urge Modi government to introduce this system

Mon, Aug 17, 2020

Amending the e-assessment scheme launched last year, the Central Board of Direct Taxes (CBDT) has notified changes to include change in nomenclature of scheme from ''E-assessment scheme'' to ''Faceless Assessment Scheme''.

Attention taxpayers! Fraudsters trying to cheat in name of GST refunds; check out warning

Attention taxpayers! Fraudsters trying to cheat in name of GST refunds; check out warning

Wed, May 06, 2020

Goods and Services Tax Network (GSTN) has warned people to beware of fraudulent websites and not reveal any personal information and bank details on such websites. Identifying one such website - https://onlinefilingindia.in, it has said that the said website is trying to bait taxpayers to reveal personal and bank details

Central Board of Indirect Taxes clears Rs 10,700 cr GST, customs duty refund in 16 days

Central Board of Indirect Taxes clears Rs 10,700 cr GST, customs duty refund in 16 days

Sun, Apr 26, 2020

The Central Board of Indirect Taxes (CBIC) has cleared over Rs 10,700 crore worth refunds in GST and customs duty between April 8-23.

GST refunds alert! Modi government takes this big decision - Important points of CBIC circular

GST refunds alert! Modi government takes this big decision - Important points of CBIC circular

Thu, Apr 23, 2020

In view of the ongoing Covid 19 pandemic, the Central Board of Indirect Taxes and Customs (CBIC) releasing a circular has informed about an important decision.

Businesses can use IGST credit to settle centre, state tax dues: CBIC

Businesses can use IGST credit to settle centre, state tax dues: CBIC

Fri, Apr 26, 2019

The Central Board of Indirect Taxes and Customs (CBIC) in March had allowed utilisation of input tax credit (ITC) of IGST towards the payment of Central GST and State GST.

CBIC to focus on behavioural patterns of taxpayers to improve GST compliance

CBIC to focus on behavioural patterns of taxpayers to improve GST compliance

Sun, Oct 28, 2018

Soon, GST officers will study the behavioural pattern of certain taxpayers to nudge them to comply with tax laws, in a departure from the current practice of focussing only on deterrent action to check evasion.

Availing latest migration window, 1,800 businesses migrate to GST regime

Availing latest migration window, 1,800 businesses migrate to GST regime

Tue, Sep 04, 2018

“About 1,800 businesses have migrated to GST regime availing the latest migration window. The number could go up as the state tax officers are still compiling data,” an official told PTI.

Mechanism soon for speedy clearance to export consignments

Mechanism soon for speedy clearance to export consignments

Sun, Sep 02, 2018

"Now with the objective of reducing the objective of physical interface between customs/regulatory agencies and the trade and to increase the speed of clearance in exports, it is proposed to introduce a facility to upload digitally signed supporting documents on a pilot basis at Air Cargo Complex, New Delhi and Chennai Customs House," it said.

States to reach out to traders, industry to list out GST grievances

States to reach out to traders, industry to list out GST grievances

Thu, Jul 26, 2018

The Central Board of Indirect Taxes and Customs (CBIC) had earlier this week written to the GST Council secretariat asking them to write to states and UTs asking them to contact MSME taxpayers and their trade and industry associations in their respective states and UTs, collect their grievances/issues related to GST along with suggestions thereof for mitigating the issues.

CBEC to be renamed as Central Board of Indirect Taxes and Customs ahead of GST

CBEC to be renamed as Central Board of Indirect Taxes and Customs ahead of GST

Sat, Mar 25, 2017

Reorganisation of the field formations of CBEC for the implementation of GST has been approved by Finance Minister Arun Jaitley.

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