CBEC credits 'exemplary zeal' of officers for exceeding tax target

Last Updated: Sunday, April 12, 2015, 10:53

The "unwavering commitment and exemplary zeal" shown by its officers has seen CBEC surpassing its indirect tax collection target by a handsome margin of Rs 4,000 crore to reach Rs 5.46-lakh crore in the just-concluded 2014-15 fiscal.

HP India tax case: Customs Tribunal to reconvene hearing in April

Last Updated: Sunday, March 22, 2015, 11:44

The Customs Tribunal is scheduled to reconvene hearings from April 6 on USD 403 million (about Rs 2,500 crore at current exchange rate) alleged duty evasion case of US-based Hewlett-Packard's (HP) India unit.

Customs duty evasion: Fin Min proposes to reduce penalty

Last Updated: Thursday, March 12, 2015, 17:13

Government proposes to reduce by 10 percent the penalty levied in cases involving fraud and other means to evade customs duty.

Maintain customs, excise, service tax rates in Budget: CII

Last Updated: Sunday, February 8, 2015, 14:24

The rates of service tax, central excise and customs duties be maintained at the current level in the Budget in order to aid the success of the 'Make in India' initiative, industry body CII has said.

Sebi to hire tax sleuths to beef up enforcement operations

Last Updated: Sunday, February 1, 2015, 15:53

Armed with powers to carry out search and seizure as well as arrest violators, the market watchdog has been cracking the whip on illegal money pooling activities.

Fliers to show original jewellery docs before declaring them

Last Updated: Sunday, January 11, 2015, 12:01

Foreign-bound fliers, wishing to declare jewellery and precious metals, should now carry an affidavit in case they don't have original documents affirming ownership of valuables before customs so that they are not charged duty on such items on their return.

Seven snoop units abroad to check black money, customs fraud

Last Updated: Sunday, January 4, 2015, 10:36

Seven overseas intelligence units, including two in China, have been proposed to be set up by the government in order to check black money transactions and customs fraud.

CII for reduction in CST rate in forthcoming Budget

Last Updated: Wednesday, December 10, 2014, 23:16

Industry body CII Wednesday said the government should announce measures like removal of anomalies in customs duty, reduction in CST rate, rationalisation of CENVAT credit scheme, among others in the forthcoming Budget.

FinMin asks tax officials to shore up realisation

Last Updated: Monday, January 27, 2014, 14:28

Buoyed by improved customs duty collections in December, Finance Minister P Chidambaram Monday asked the revenue officials to shore up realisation in the remaining months with a view to exceed the revised projections.

Four Indians jailed in Singapore for contraband cigarettes dealing

Last Updated: Thursday, January 16, 2014, 15:39

Four Indian-origin men in Singapore were handed down prison sentences of up to three years for dealing in contraband cigarettes worth SGD 1.4 million.

Poll selects world`s `strangest New Year`s custom`

Last Updated: Friday, December 27, 2013, 15:08

The title of the world`s unusual New Year`s customs has been awarded to the practice of people gathering late every New Year`s Eve in the cemetery of a Chilean city to welcome the coming year in the company of dead relatives.