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.

Govt not to hike excise duty on petrol, diesel

Last Updated: Thursday, August 20, 2015, 19:52

The government had in four installments raised excise duty on petrol and diesel between November and January to take away the reduction in retail rates that was warranted from falling international oil prices.

Indirect tax revenue surges 37% to Rs 2.1 lakh crore in Apr-Jul

Last Updated: Tuesday, August 11, 2015, 16:01

Indirect tax revenue jumped over 37 percent to over Rs 2.1 lakh crore during April-July period of current fiscal, on the back of higher excise collections.

'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.

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.

Exercise caution while issuing SCNs: CBEC to officials

Last Updated: Sunday, May 24, 2015, 12:08

In a communication, CBEC has said that "sometimes" notices have been issued that were legally unsustainable.

Excise collection on petrol, diesel up 50% at Rs 74.5K cr

Last Updated: Friday, May 8, 2015, 18:00

Excise duty collection on petrol and diesel jumped over 50 percent in 2014-15 to Rs 74,465 crore as the government on multiple occasions raised tax rates to shore up its revenues.