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 Central Board of Excise & Customs will develop the process over the next few months.
The Service Tax Department has once again frozen the bank accounts of the national carrier Air India for non-payment of dues running into a little over Rs 300 crore (Rs 3 billion).
Asks to meet targets in the remaining seven weeks.
The Election Commission has deployed 36 observers for monitoring the flow of illegal cash and other inducements during the upcoming assembly polls in Meghalaya, Nagaland and Tripura. The officials have been deputed by the Central Board of Direct Taxes (Income Tax department) and Central Board of Excise and Customs (Customs and Excise department) and will act as Election Expenditure Observers, a senior Revenue department official said.
Wants to end hostile relationship between I-T dept and taxpayers.
However, the tariff value for silver has been lowered to $920 per kg, according to a notification released by the Central Board of Excise and Customs on Tuesday.
The CBEC admitted the three models are known as sedans in trade, not as SUVs.
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.
Tariff value is the base price on which the customs duty is determined to prevent under -invoicing.
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 tariff value of silver has, however, been hiked marginally to $1062 a kg
The tariff value, which is released every fortnight, is the base price on which the customs duty is determined to prevent under-invoicing.
Steel makers in Punjab has termed the excise duty demand raised by the central excise department as unjustified and has sought intervention of the chairman of Central Board of Excise and Customs in the matter.
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.
He said with an aim to make the FDI policy user friendly, all prior regulations and guidelines have been consolidated into a comprehensive document.
The government said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
The government on Friday slashed import tariff value of gold to $507 per 10 grams and of silver to $871 a kg following fall in global prices of the precious metals.
In the wake of rising global prices of precious metals, the government on Thursday hiked import tariff value of gold to $531 per 10 grams, while the value was kept unchanged at $899 per kg for silver imports.
He says current arrangement is working fine.
Amid the growing chorus against black money and the government's efforts to pull the plug, Union Law Minster M Veerappa Moily has suggested Finance Minister Pranab Mukherjee to completely overhaul the tax administration.
While clarifying the provisions of service tax to be levied on services provided by air conditioned restaurants with licence to serve liquor, the CBEC said the value added tax excluded from the taxable value.
The Central Board of Excise and Customs has put in place a comprehensive mechanism for verification and monitoring of exports made under various duty exemption or reward schemes.
Sukumar Mukhopadhyay, former member, Central Board of Excise and Customs, and Govindrao Adik, MP and General Secretary, NCP, debate the pros and cons of offering amnesty to tax evaders.
The government has set the indirect tax collection target for the current fiscal at Rs 3.92 lakh crore (Rs 3.92 trillion) and for direct taxes at Rs 5.32 lakh crore (Rs 5.32 trillion).
The notification shall come into force on July 1.
E-filing through the Centre's online tax payment application Automation of Central Excise and Service Tax will be a must not only for returns due after October 1, but also for returns of past periods which have not been filed yet or are to be revised.
TDS has been successfully used for direct taxes like the income tax.
Ahead of Union Budget, the government on Thursday said it hopes to exceed the indirect tax collection estimate of Rs 3.36 lakh crore for this fiscal in view of the buoyancy in the economy.
The Central Board of Excise and Customs on Tuesday said that tax rates under the proposed Goods and Services Tax regime in India is likely to be between 16 per cent and 20 per cent.
Pharmaceutical companies in Himachal Pradesh are queuing up to register new products at the drugs controller's office before the seven-year tax holiday window for hill states ends on March 31
"We have clarified we are giving 50 per cent abatement and in the course of time when the GST is coming most of the services will be there. We are not touching common man because government hospitals are out, less than 25 beds are out," Central Board of Excise and Customs Chairman S Dutt Majumder said on the sidelines of a CII post-Budget event.
Reversing a concession given by the commerce ministry to the embattled exporters in the midst of recession in the West last year, the Central Board of Excise and Customs has directed chief commissioners of customs and excise to recover the drawbacks from exporters who have not realised their proceeds.
The government has exempted a number of goods like food grains, fertilisers and farm inputs from paying service tax for transportation through railways and waterways.
Amid speculations of partial roll back of stimulus in the upcoming Budget, a key finance ministry official said the government's kitty from indirect tax collections will fall short of the projected figures for this fiscal.
Last week, the Central Board of Excise and Customs notified that a service tax of 10 per cent would be levied on the gross value of a housing property under construction from July 1.
EPFO manages a corpus of about Rs 257,000 crore with subscribers' base of over 4.5 crore.
Electronic filing of service tax will be made compulsory in the next two months," CBEC member Y G Parande told reporters on the sidelines of a PHD chamber seminar.
Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr
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