Cbic

CBIC deserves credit for efficient assessment

The first phase of the 'faceless assessment' for imported goods was introduced in the first week of June this year at Bengaluru and Chennai Customs zones

Customs to roll our faceless assessment for imported goods from Oct 31

The Faceless Assessment is being rolled out under the umbrella of the next generational Turant Customs programme.

Interest on delayed GST can be paid on net basis from Sept 1: Centre

Though notification comes with effect from September, Centre assures that the same will apply from retrospective effect after all-round criticism

CBIC makes video conferencing mandatory for hearings in GST appeal cases

In April, the Central Board of Indirect Taxes and Customs had issued guidelines for conducting personal hearing in virtual mode for appeals under Customs Act

CBIC directs Customs to check safety of explosives in warehouses, ports

The Central Board of Indirect Taxes and Customs (CBIC) said this precautionary step has been taken in view of the recent incident of an explosion in a foreign country caused by such material

CBIC invites suggestions on reviewing customs laws for ease of doing biz

The CBIC has invited comments on the same by August 21. A comprehensive review would be undertaken by September

CBDT, CBIC sign MoU to facilitate exchange of information on regular basis

The finance ministry said important developments such as the incorporation of GST Network and advancement of technology have duly been incorporated in the MoU

CBIC extends deadline for re-import of cut, polished diamonds by 3 months

The re-import in the extended period would be without payment of basic customs duty and integrated goods and services tax

Govt extends time for duty-free import of diamonds sent for certification

The extended time period would be available to exporters to bring back cut and polished diamonds after due certification and grading by specified laboratories abroad

15th Finance Commission discusses govt's revenue projections in video meet

The meeting was headed by Chairman NK Singh with Finance and Revenue Secretary Ajay Bhushan Pandey, CBDT Chairman Pramod Chandra Mody and CBIC Chairman M Ajit Kumar

GSTR-4: Govt considering demand for extending date for filing I-T returns

The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers had been extended till July 15, 2020 on April 3, 2020

Govt's cost-cutting drive: Proposal to merge CBDT, CBIC back on the table

Freezing hiring, curtailing allowances, and merging of job categories also on the cards

Top headlines: CBDT, CBIC merger on cards, China dominates power sector

Government aims to cost cuts, scientists warns Covid-19 could be airborne and India's IT sector is forced to lay off employees.

'NIL' return filers can file sales statement GSTR-1 via SMS from July 1

Taxpayers willing to file GSTR-1 have to send SMS to 14409 to initiate the SMS facility

Blanket exemption from fees for late GST payments unfair, says CBIC

The CBIC said a blanket exemption of late fee would be unfair towards taxpayers who filed their February, March and April GST sales returns within the extended due date

'Faceless assessment of tax to help reduce corruption charges'

The CBIC has issued detailed instructions appointing nodal commissioners for the purpose of administratively monitoring the assessment practice in respect of imported goods

ITC refund will be allowed for certain supplies even without invoice: CBIC

GSTR-2A is a purchase return auto-generated by the GST system based on the transaction between a business and its supplier.

CBIC settles controversy over imposition of GST on directors' income

These remunerations would be treated as fees for professional or technical services

Govt extends validity of e-way CGST bills till June-end amid Covid outbreak

CBIC had in April extended the validity of e-way bills generated on or before March 24 and having expiry between March 20 and April 15 till April 30

Conflicting rulings at state level fuel call for setting up centralised AAR

Centralised AAR was, in fact, already approved by GST Council and Cabinet over a year ago