As Centre cedes power to states in indirect tax, it wants to all ystaffers' worry of little work.
The Central Board of Excise and Customs (CBEC) has recommended an overhaul of the Special Economic Zone (SEZ) Act 2005 saying it has detected gross violations of duty and tax concessions causing it to suffer a revenue loss of Rs 1,75,000 crore to date.
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
May adopt dtrict action including prosecution and property attachment.
Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr
He says current arrangement is working fine.
Khyati Multimedia-Entertainment Ltd has informed BSE that the company has received an order worth Rs 700 million from Central Board of Excise and Customs Department.
Central Board of Excise and Customs Chairperson Vanaja Sarna said there will be genuine errors due to lack of understanding in the initial days. "CBEC has enforcement authorities and I have specifically said that the first three to six months are a go-slow.... I don't want small cases to be made," Sarna said at a CII event.
The Central Board of Excise and Customs has decided to prescribe time limits for various activities following representations from the trade and recommendations from the Comptroller and Auditor General of India
Security and intelligence agencies will soon be provided with a new platform which is technologically advanced, secure and helpful in dealing with new age criminals and anti-social elements, officials said on Wednesday.
The company's net loss widened to Rs 444.26 crore (Rs 4.44 billion) for the quarter ended December 31, 2011, due to high fuel costs and weaker rupee from Rs 253.69 crore (Rs 2.53 billion) in the October-December quarter in the last fiscal.
The government has de-frozen the bank accounts of debt-ridden Kingfisher Airlines and Air India after the two air carriers made part-payment of their service tax dues.
It will reduce compliance cost as the assessee will not have to maintain multiple records for a variety of taxes
CBEC has said a duty-free shop in a Customs area should not be treated as a warehouse.
Airports have been asked to ensure that information relating to the use of Indian currency should be displayed at all the duty-free shops.
GST reform has been hanging fire since 2006-07.
The outstanding dues of Central Board of Excise and Customs mounted to Rs 14,222 crore (Rs 142.22 billion), with over 53,600 cases pending in various courts till June 2003.
As per norms, the returns have to be filed online on www.aces.gov.in.
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
Indian passengers boarding international flights on the domestic leg are not required to file customs baggage declaration form, the government has ruled.
Asks to meet targets in the remaining seven weeks.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
Wants to end hostile relationship between I-T dept and taxpayers.
The CBEC admitted the three models are known as sedans in trade, not as SUVs.
India on Monday said it has put in place a simplified procedure to expedite and facilitate transit clearances of relief supplies to Nepal which is still reeling under the impact of the massive devastation caused by two earthquakes.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
CBEC alleges that the company imported semi-knocked down cars but paid duty for completely-knocked down car units.
Tariff value is the base price on which the customs duty is determined to prevent under -invoicing.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
The government on Friday slashed the import tariff value of gold to $535 per 10 gram and reduced the rate for silver marginally to $1,003 per kg due to weakening global prices of precious metals.
The demand got a further clout after the economic growth in 2011-12 recorded the nine-year low growth of 6.5 per cent.
The tariff value of silver has, however, been hiked marginally to $1062 a kg
The Revenue Department has extended the deadline by one month to November 25 for filing of service tax returns for the April-June quarter, as it has not been able to provide electronic return form in time.
Concerned over huge revenues in form of customs, services and excise duties locked up in litigations, Finance Minister Pranab Mukherjee has constituted a committee to suggest steps to bring down such cases.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
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