CBEC must aim at 22% growth in service tax collection: Das

Last Updated: Monday, August 24, 2015, 23:15

Concerned over low service tax realisation, Revenue Secretary Shaktikanta Das Monday asked the CBEC (Customs, Central Excise and Service Tax) to analyse revenue mop-up sectorally and ensure that it grows by 20-22 percent in the fiscal.

Commerce Minister working on internal processes to ratify WTO's TFA

Last Updated: Friday, July 31, 2015, 20:50

The government is working on internal processes to ratify WTO's trade facilitation agreement (TFA), which looks to ease Customs procedures to boost trade, a senior commerce ministry official on Friday said.

Govt cuts tariff value on imported gold for 2nd straight week

Last Updated: Friday, July 24, 2015, 14:02

The government on Friday slashed the import tariff value on gold for the second straight week to USD 354 per 10 gm in line with weak global prices of the precious metal.

'Place of Supply' rules for e-commerce under GST on anvil

Last Updated: Sunday, July 19, 2015, 15:02

As part of GST roll out, the Revenue Department will prepare 'Place of Supply' rules that will comprehensively cover taxation of e-commerce, an official said.

Manual scrutiny of Service Tax returns from Aug 1: CBEC

Last Updated: Friday, July 10, 2015, 22:49

The assessees who are subject to service tax audits would not be covered under the detailed scrutiny programme.

Najib Shah likely to be appointed as new CBEC Chairman

Last Updated: Monday, June 29, 2015, 21:03

Senior IRS officer Najib Shah is likely to take over as Chairman of Central Board of Excise and Customs (CBEC), official sources said on Monday.

CBEC to popularise Settlement Commission for resolving tax disputes

Last Updated: Sunday, June 28, 2015, 12:15

The Central Board of Excise and Customs (CBEC) has asked its officials to encourage assessees facing notices to get tax disputes expeditiously resolved through the Settlement Commission mechanism.

Finance Ministry reduces penalty for customs duty fraud by 10%

Last Updated: Tuesday, June 23, 2015, 15:02

The penalty in cases of customs duty fraud has been reduced by 10 percent by the Finance Ministry.

India's import framework remains complex: WTO

Last Updated: Wednesday, June 3, 2015, 12:16

India is streamlining its Customs procedures and implementing trade facilitation, but the country's import structure still remains complex, WTO has said.

Government reduces tariff value on gold, silver

Last Updated: Monday, June 1, 2015, 16:47

During last fortnight, the tariff value on imported gold was USD 398 per 10 grams and on silver at USD 567 per kg.

Govt simplifies defence rules to woo foreign firms

Last Updated: Monday, June 1, 2015, 16:09

In order to provide a level-playing field to private players, the government withdrew excise and Customs duty exemptions enjoyed by the Ordinance Factory Board and defence PSUs.