FinMin initiates steps to correct trade data discrepancies

Last Updated: Sunday, July 21, 2013, 14:04

"The issue of poor quality of trade data has been engaging the attention of the government," CBEC said in a communication to the Customs and other revenue officials.

Indirect tax kitty grows 4.7 % in Apr-Jun

Last Updated: Sunday, July 21, 2013, 10:57

Indirect tax -- excise, customs and service tax -- collection in the first quarter stood at about Rs 1.11 lakh crore, as against Rs 1.05 lakh crore in the corresponding period a year ago, a finance ministry official said.

Govt extends 24x7 customs clearance facility for export cargo

Last Updated: Tuesday, June 25, 2013, 19:36

"All exports including those made under export incentives scheme as well as duty drawback scheme will now be able to be move out of the country on 24x7 basis," Finance Ministry said in a statement.

Govt further cuts import tariff value of gold

Last Updated: Wednesday, May 22, 2013, 14:13

In the wake of falling global prices of precious metals, the government on Wednesday further slashed the import tariff value of gold to USD 440 per ten grams, while it has been kept unchanged at USD 761 per kg for silver imports.

Eight customs officials booked for attacking passenger

Last Updated: Sunday, May 12, 2013, 20:58

Eight customs officials were booked on the charge of assaulting a passenger at the Rajiv Gandhi International Airport (RGIA) here, police said on Sunday.

UK tax evasion global hunt nets over 100 individuals

Last Updated: Friday, May 10, 2013, 22:25

Her Majesty's Revenue and Customs (HMRC) said it has obtained 400 gigabytes of data which reveal those, along with professional advisers, who may be involved.

Nigerian held at airport for not declaring USD

Last Updated: Monday, April 29, 2013, 20:28

As per rule, passengers carrying above USD 5,000 have to give declaration before the authorities.

Deputy Commissioner Customs sentenced to 1 year imprisonment

Last Updated: Friday, April 12, 2013, 21:38

A former deputy commissioner of Customs has been sentenced by special CBI court in Chennai to undergo one year rigorous imprisonment in a case of bribery, agency spokesperson said here today.

India, Eurasian Eco Commission agree to move towards CECA

Last Updated: Tuesday, April 2, 2013, 21:54

In a bilateral meeting with Chairman of the Board of the Eurasian Economic Commission (EEC) Viktor Khristenko, Commerce and Industry Minister Anand Sharma said the Customs Union is an important block in the Commonwealth of Independent States (CIS) from the point of view of India-CIS trade.

Tariff value of gold increased to $521/10 grams

Last Updated: Tuesday, April 2, 2013, 17:43

The government Tuesday increased the tariff value of gold to USD 521 per 10 grams, making import of the precious metal in any form costlier.

Customs `detain` Rs 20-lakh silver trophy from ICC official

Last Updated: Sunday, March 24, 2013, 17:31

An ICC official was caught allegedly bringing into the country a silver trophy worth Rs 20 lakh without paying customs duty at IGI aiport here following which it was seized.