Last Updated: Wednesday, May 8, 2013, 22:00
The CBEC is likely to serve a Rs 650-crore show-cause notice to luxury car maker BMW alleging that it imported semi-knocked down cars but paid duty for completely-knocked down car units.
Last Updated: Wednesday, April 24, 2013, 16:02
Government has extended date of e-filing of service tax return for the second half of 2012-13 to August 31, 2013 as the forms will be available by the end of July.
Last Updated: Wednesday, February 6, 2013, 22:32
The Central Board of Excise and Customs (CBEC) has written to such companies to furnish documents regarding the nature of services provided by them, tax paid etc within 10 days of the receipt of the letter.
Last Updated: Wednesday, January 9, 2013, 20:02
Terming the government decision to recover indirect taxes even when stay plea is pending in courts as "draconian", experts said the move has put the trade and industry into a quandary.
Last Updated: Monday, January 7, 2013, 22:18
Hard-pressed for funds, the revenue department Monday directed its field formation to expedite recovery of indirect taxes in cases where stay order has not been obtained by the assessee from the appellate authorities.
Last Updated: Wednesday, July 18, 2012, 18:51
The service tax department can take Kingfisher to court under Section 76 and 78 of the Finance Act. Under the provisions of the Act, the CBEC can charge up to 200 percent of the tax evaded as penalty.
Last Updated: Friday, June 29, 2012, 21:20
The government on Friday slashed import tariff value of gold to USD 507 per 10 grams and of silver to USD 871 a kg following fall in global prices of the precious metals.
Last Updated: Tuesday, June 19, 2012, 20:53
A CBEC panel wants the new service tax regime, which is scheduled for implementation from July 1, be deferred by 3-4 months as more time is needed to put in place the required framework.
Last Updated: Monday, June 4, 2012, 16:56
Pinning hopes on declining global crude oil prices and normal monsoon, Finance Minister Pranab Mukherjee Monday said these positive factors would help in improving growth rate, which slipped to a nine-year low of 6.5 percent last fiscal.
Last Updated: Monday, June 4, 2012, 14:27
The Finance Ministry is examining a proposal to hike excise duty on diesel cars, a move which may discourage consumption of subsidised fuel by personal vehicle owners, a senior government official said Monday.
Last Updated: Monday, June 4, 2012, 12:52
The government aims at generating about Rs 5.05 lakh crore from central excise, customs and service tax.
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