No extension of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - CBIC
Posted Date : 18-Dec-2019 , 09:35:17 am | Posted By CASANSAAR
The Government has asked its tax officers across the country to urge indirect tax payers to make use of the ongoing dispute resolution scheme, Sabka Vishwas, which is due to close at the end of the month and made it clear that the deadline will not be extended. So far, over 52,000 applications have ...
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Excise |
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Parliament passes bill to raise maternity leave to 26 weeks
Posted Date : 09-Mar-2017 , 09:54:23 pm | Posted By CASANSAAR
Parliament has passed the Maternity Benefit (Amendment) Bill, 2016 with Lok Sabha approving it today which was already cleared by Rajya Sabha. The bill seeks to enhance paid maternity leave for women engaged in organised sector from 12 weeks to 26 weeks for two surviving children.
It will be appl...
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Excise |
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0 | Hits : 1534
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Bihar Becomes First Non-NDA Govt To Ratify GST
Posted Date : 16-Aug-2016 , 04:58:56 pm | Posted By CASANSAAR
Bihar today became the first non-NDA state to ratify the Constitution Amendment Bill on GST after Chief Minister Nitish Kumar counted virtues of the tax reform.
With all the major parties in the state including JD(U), RJD, Congress and BJP in favour of the tax legislation, the House approved the ...
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Excise |
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Simplified Central Excise norms for Jewellery Sector notified
Posted Date : 29-Jul-2016 , 09:18:27 am | Posted By CASANSAAR
In this year’s Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent to that, the Government had set up a Sub-Committe...
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Excise |
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Indirect tax collection for the 1st quarter of 2016-17 indicates a growth rate of 30.8%
Posted Date : 08-Jul-2016 , 10:42:21 pm | Posted By CASANSAAR
The figures of indirect tax collection for the 1st quarter of current fiscal 2016-17 indicates a growth rate of 30.8% as compared to the 36.3% in the corresponding period of previous financial year. Once the Additional Resource Mobilization(ARM) is removed, the growth rate in Q1 is 10.2%[Custo...
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Excise |
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CBEC issues a Circular on recovery of confirmed demands during the pendency of stay application of duty
Posted Date : 05-Jul-2016 , 03:45:07 pm | Posted By CASANSAAR
Central Board of Excise and Customs (CBEC) has issued a circular dated 04.07.2016 on the issue of ‘’Recovery of confirmed demand of tax during the pendency of stay application’’ in relation to indirect taxes. Confirmed demand of tax arises, when after examining the submission...
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Excise |
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Govt extends time for jewellers to obtain excise registration
Posted Date : 03-Jul-2016 , 09:32:51 am | Posted By CASANSAAR
The Centre on Friday announced that the time limit for taking central excise registration of an establishment by a jeweller has been extended up to 31st of this month.
The Finance Ministry said, the liability for payment of central excise duty will be with effect from 1st March, 2016. However, as...
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Excise |
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Publication on Central Excise Law and Procedure for Jewellery Industry - ICAI
Posted Date : 12-Apr-2016 , 06:58:40 am | Posted By CASANSAAR
The publication “Central Excise Law and Procedure for Jewellery Industry” has been brought out by Indirect Taxes Committee of ICAI to familiarize the members and the industry with the various provisions of excise law and procedures pertaining to the levy of excise duty on jewellery. The ...
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Excise |
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0 | Hits : 1425
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Excise department issues tax notices to jewellers
Posted Date : 21-Mar-2016 , 08:00:24 am | Posted By CASANSAAR
Jewellers have started getting tax notices over the one per cent excise duty imposed by the Budget for 2016-17, even as they called off their 18-day strike on the issue from Saturday evening, after assurances from Finance MinisterArun Jaitley against harassment. The notices ask j...
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Excise |
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Jewellers on 3-day pan-India strike against excise duty
Posted Date : 03-Mar-2016 , 08:07:52 am | Posted By CASANSAAR
Jewellers today started their three-day pan-India strike to protest proposed re-imposition of 1 per cent excise duty on gold and diamond jewellery and mandatory quoting of PAN by consumers for transaction of Rs 2 lakh and above.
More than 3 lakh jewellers participated in the strike on Day 1, an i...
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Excise |
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0 | Hits : 1060
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No officer to hold sensitive posts beyond 3 years: CBEC
Posted Date : 24-Feb-2016 , 07:31:07 am | Posted By CASANSAAR
No officer should remain posted on sensitive posts for more than three years to ensure probity among the government servants, the Central Board of Customs and Excise (CBEC) has said.
"... It is stated that postings and transfers of all officers/officials are required to be done as per ...
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Excise |
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0 | Hits : 986
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Initiatives of Central Board of Excise and Customs to Facilitate Trade and to Resolve Disputes
Posted Date : 17-Dec-2015 , 02:51:55 pm | Posted By CASANSAAR
The Central Board of Excise and Customs, Department of Revenue, Ministry of Finance, Government of India has taken a number of initiatives to facilitate trade and to resolve disputes. A slew of measures were taken to enable effective and speedy dispute resolution and to facilitate the trade and indu...
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Excise |
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0 | Hits : 950
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Government notifies revised all industry rates of Duty Drawback and other Duty Drawback related changes wef 23rd Nov 2015
Posted Date : 17-Nov-2015 , 08:29:18 am | Posted By CASANSAAR
The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015.
These revised rates are based on average incidence of Customs and Central Excise Duties and Service Tax related with the manufacture of export goods and involv...
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Excise |
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Indirect tax revenue up by over 37 per cent in first quarter of current fiscal
Posted Date : 12-Jul-2015 , 07:44:27 am | Posted By CASANSAAR
Chief Economic Advisor Arvind Subramanian said that Indirect tax revenues grew 37.5 per cent in the first quarter of current fiscal, which reflects a healthy growth in the economy. In a tweet, Mr Subramanian said, indirect tax revenue grew a robust 37.5 per cent in April-June over the comparable per...
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Excise |
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0 | Hits : 887
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Excise Dept move on service tax may make rail-based traffic costlier
Posted Date : 07-Apr-2015 , 07:01:35 pm | Posted By CASANSAAR
At a time when the Centre is trying to increase the share of rail-based traffic, an excise department move may end up shifting container traffic away from rail to roads.
The excise department wants to impose full service tax on containerised traffic without providing the 70 per cent abatement a...
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Excise |
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0 | Hits : 1027
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FM ask to IRS - Customs & Central Excise Officer Trainees to be Both Firm and Fair in Their Dealing with the Tax Assesses
Posted Date : 26-Dec-2014 , 09:08:15 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley asked the Indian Revenue Service (IRS-Customs &Central Excise) officer trainees to be both firm and fair in their dealing with the tax assesses. He said that they have to maintain a fine balance between what taxes are to be charged and what not to be ...
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Excise |
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0 | Hits : 1081
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Initiatives to Facilitate Trade and Encourage Non-Adversarial Tax Administration
Posted Date : 07-Nov-2014 , 07:27:36 pm | Posted By CASANSAAR
In the Budget 2014 Hon’ble Finance Minister had announced certain initiatives to facilitate trade and cut trade transaction costs. It is the endeavor of the Indirect Tax administration to facilitate the trade and industry in discharging their tax dues, and simplify procedures for ease of doing...
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Excise |
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0 | Hits : 832
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Kaushal Srivastava is the new CBEC Chairman
Posted Date : 28-Oct-2014 , 08:13:09 am | Posted By CASANSAAR
Kaushal Srivastava is set to become the new Chairman of the Central Board of Excise and Custom (CBEC), the apex policy making body of indirect taxes.
Srivastava, a 1978 batch Indian Revenue Service officer and senior-most in the board after the present chairperson, is at present Member (bud...
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Excise |
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Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 02-Oct-2014 , 07:45:04 am | Posted By CASANSAAR
In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.87/2014-CUSTOMS (N.T.), dated the 18th September, 2014 vide number S.O. 24...
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Excise |
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0 | Hits : 936
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Excise department to clamp down on hotels evading luxury tax
Posted Date : 30-Sep-2014 , 08:14:00 am | Posted By CASANSAAR
Concerned over low luxury tax collection, theexcise department has geared up to clamp down on hotels,banquet halls, Spa evading luxury tax in the national capital.
The department, which is also in-charge of luxury tax collections in Delhi, will take the help of law enforcemen...
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Excise |
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0 | Hits : 951
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Government plans new return to plug Excise, Service tax evasion
Posted Date : 08-Sep-2014 , 08:14:45 am | Posted By CASANSAAR
The government plans to introduce a new annual tax return that will include information from income tax audit report, including TDS and income tax returns, and cost audit report as it looks to draw information from multiple sources to clamp down on evasion of excise and service tax.Several services ...
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Excise |
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0 | Hits : 1407
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CBEC to use third-party information to nab tax evaders
Posted Date : 19-Aug-2014 , 08:36:58 am | Posted By CASANSAAR
India's indirect taxes body, the Central Board of Excise and Customs (CBEC) could start monitoring power consumption and payments towards valueadded tax in states as it proposes to use information from third-party sources to nab tax evaders. The plan draws heavily from income tax authorities an...
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Excise |
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0 | Hits : 1332
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Eye on higher excise mop-up, CBEC gives more powers to commissioners
Posted Date : 27-Mar-2014 , 07:49:45 am | Posted By CASANSAAR
In a last-ditch attempt to shore up faltering excise duty collection, the Central Bureau of Excise and Customs (CBEC) has empowered chief commissioners to act tough on manufacturers and dealers evading duty payment and abusing duty credit facilities.
The new provisions, notified on March 21...
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Excise |
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0 | Hits : 947
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CBEC relaxes export warehousing norms, bank guarantee not required
Posted Date : 23-Dec-2013 , 08:52:15 am | Posted By CASANSAAR
The Central Board of Direct Taxes has relaxed the warehousing provisions for export warehousing.
Under the revised norms, exporters could submit letter of undertaking (LUT) in place of bank guarantee which no longer is a compulsory requirement for availing warehousing pr...
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Excise |
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0 | Hits : 1003
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Circular by January 15 for levying excise on goods sold below cost: Finance Ministry
Posted Date : 17-Dec-2013 , 06:12:39 pm | Posted By CASANSAAR
The Finance Ministry has said it will come out with a circular by January 15 to implement a Supreme Court decision regarding valuation of goods sold below the cost price for levying excise duty.
The Supreme Court in a recent decision - in the case of CCE, Mumbai versus Fiat India (P) Ltd - held tha...
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Excise |
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0 | Hits : 1026
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Over 18,000 additional posts to be created in Indirect Tax wing
Posted Date : 07-Dec-2013 , 08:53:02 am | Posted By CASANSAAR
The Indirect Tax wing of the Finance Ministry, consisting of Custom, Excise and Service Tax Department, will get over 18,000 new recruits.
This is a part of cadre restructuring proposal of the Central Board of Excise and Custom (CBEC) as approved by the Cabinet on Thursday.
The mov...
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Excise |
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0 | Hits : 1314
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Govt approves 6 additional benches of CESTAT
Posted Date : 17-Oct-2013 , 03:49:16 pm | Posted By CASANSAAR
The government today approved setting up of six additional benches of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), including three new ones at Chandigarh, Hyderabad and Allahabad with an aim to increase disposal of cases.The other three additional benches will come up at the exis...
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Excise |
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0 | Hits : 797
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Rotate customs, central excise officers every 2 years: Finance Ministry
Posted Date : 07-Jun-2013 , 08:28:50 am | Posted By CASANSAAR
The Finance Ministry hasemphasised on rotation of Indian Revenue Service officers working in service tax, excise and customs departments every two years to provide them adequate exposure.In a recent directive, the Ministry has asked Chief Commissioners and Director Generals of Ce...
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Excise |
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0 | Hits : 749
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Mandatory e-filing of excise duty returns likely for all
Posted Date : 11-May-2013 , 08:35:26 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) is considering making electronic filing mandatory for excise duty payment. An official source told The Indian Express that the present duty cap of Rs 10 lakh for e-filing is likely to be done away with and all the assesses may have to file returns elect...
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Excise |
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0 | Hits : 1045
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Honda's discount offers on Brio, Jazz under CBEC scanner, asked to pay Rs 164 crore more as excise duty
Posted Date : 30-Apr-2013 , 08:39:25 am | Posted By CASANSAAR
Honda Motor Company's endeavour to garner market share in India by offering discounts on models such as the Brio and Jazz has run afoul of tax authorities. The Central Board of Excise & Customs(CBEC) has served a show-cause notice on the Japanese auto major demanding that it pay 1...
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0 | Hits : 934
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