Cbec

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GST rollout: Revenue Secretary Hasmukh Adhia says regime will bring transparency, benefit honest taxpayers
Business

GST rollout: Revenue Secretary Hasmukh Adhia says regime will bring transparency, benefit honest taxpayers

GST will not alter the prices of essentials and daily use items like salt and soaps as they have either been exempt or tax on them has been kept at the current level

Ahead of PAN-India GST rollout, CBEC set to become Central Board of Indirect Taxes and Customs
Business

Ahead of PAN-India GST rollout, CBEC set to become Central Board of Indirect Taxes and Customs

The CBEC has got government approval to reorganise the existing Central Excise and Service Tax field formations according to the requirements of the pan-India GST regime

Challenges threatening GST rollout including filing of 37 returns instead of the current 13
News & Analysis

Challenges threatening GST rollout including filing of 37 returns instead of the current 13

A small-scale manufacturing company with operations in only one state will have to file a minimum of 37 returns instead of the current 13 once the goods and services tax (GST) goes live from 1 July.

GST rates: Govt starts media awareness drive for common man to prevent being fleeced by traders
Business

GST rates: Govt starts media awareness drive for common man to prevent being fleeced by traders

The Central Board of Excise and Customs (CBEC) in advertisements in leading dailies gave pictorial representations of items which are exempt from Goods and Services Tax and the ones which would attract lower tax of 5 percent.

GST rollout: Finance ministry seeks public comments on eight set of rules
Business

GST rollout: Finance ministry seeks public comments on eight set of rules

The government has sought comments from industry on the 4 set of new rules on -- GST Composition, GST Valuation, GST Transition and GST ITC.

Taxes under GST 'to increase a bit': Central Board of Excise and Customs chairman
Business

Taxes under GST 'to increase a bit': Central Board of Excise and Customs chairman

Apart from the tax rates, there will also be a cess on top of it, which will form the corpus to compensate the states for any revenue loss for the first five years of implementation of GST.

Tax officers, staff protest against GST, say its structure may lead to 'utmost' chaos
Business

Tax officers, staff protest against GST, say its structure may lead to 'utmost' chaos

The associations said they believe in Constitutional methods of protests only to make their voices heard and to draw the attention of decision makers.

Former IRS officer Praveen Mahajan becomes first woman president of AITA
Sports

Former IRS officer Praveen Mahajan becomes first woman president of AITA

Senior bureaucrat Praveen Mahajan on Thursday became the first woman President of the All India Tennis Association, replacing veteran administrator Anil Khanna who was forced to quit by the Sports Ministry.

Netflix but no chill? Online downloads, subscriptions from foreign sites to get 15 % tax
Entertainment

Netflix but no chill? Online downloads, subscriptions from foreign sites to get 15 % tax

Downloading foreign content from services like Netflix, Apple and Amazon Kindle will attract a 15 percent tax.

Uttarakhand body opposes states being kept out of tax adminstration process under IGST
Business

Uttarakhand body opposes states being kept out of tax adminstration process under IGST

On Tuesday Uttarakhand Commercial Tax Service Association opposed the GST council's decision to keep the states out of the tax administration process under IGST, saying it went against the principle of fiscal federalism by narrowing down the role of states and their dealer base.

CBEC to be rechristened as CBIT under GST regime
Business

CBEC to be rechristened as CBIT under GST regime

Since the tax base in the GST set-up is bound to increase manifold, the challenge will be to provide maximum facilitation and at the same time ensure optimum compliance. In this context, the role of DGITI will be of paramount significance.

Art connoisseur wins Vijay Mallya's luxury jet, to turn it into art pilgrimage venture
Business

Art connoisseur wins Vijay Mallya's luxury jet, to turn it into art pilgrimage venture

G S Srivastava, Chairman, SGI Commex, who won won the auction at a price of Rs 27.39 crore, plans to utilise the aircraft to promote exotic art work ingrained in various temples and religious places across the country

GST rollout: From training staff to preparing a money Bill, here's how govt is readying
Business

GST rollout: From training staff to preparing a money Bill, here's how govt is readying

As per the detailed GST rollout roadmap prepared by Revenue Secretary Hasmukh Adhia, the IT infrastructure framework will be ready by March 2017 and a massive outreach and industry sensitisation programme will also be carried out

60k officers to be trained on GST; IT infra to be ready by March
Business

60k officers to be trained on GST; IT infra to be ready by March

After the training on GST laws gets complete by December 2016, GSTN will train them on the related IT infrastructure by March 2017

Aamir Khan, Ranveer Singh, YRF asked to disclose income; receive service tax notices
Entertainment

Aamir Khan, Ranveer Singh, YRF asked to disclose income; receive service tax notices

Bollywood production houses like Yash Raj Films and actors like Aamir Khan and Ranveer Singh have received CBEC notices seeking information about their income.

Govt slaps 20% export duty on sugar to check prices, improve domestic supply
Business

Govt slaps 20% export duty on sugar to check prices, improve domestic supply

India has exported 1.6 million tonnes of sugar so far in the 2015-16 marketing year

PM Modi to hold interactive session with taxmen at Revenue Gyan Sangam
Politics

PM Modi to hold interactive session with taxmen at Revenue Gyan Sangam

Prime Minister Narendra Modi will hold an interactive session with the top brass of the two revenue collection arms of the government — CBDT and CBEC — during a first-of-its-kind 'Rajasva Gyan Sangam' on 16 June.

Budget 2016: Govt looking at Shome panel report to simplify tax system, says Arun Jaitley
Business

Budget 2016: Govt looking at Shome panel report to simplify tax system, says Arun Jaitley

Ahead of the Budget 2016-17, Finance Minister Arun Jaitley today said the government is looking into the recommendations of Parthasarathi Shome committee for simplifying tax administration.

Govt hikes excise duty on petrol, diesel; to mop up Rs 3,700 cr
Business

Govt hikes excise duty on petrol, diesel; to mop up Rs 3,700 cr

If the government would not have raised these duties, consumer price of petrol and diesel should have been lower by Rs 10.77 a litre and Rs 11.80 per litre, respectively.

Govt making all efforts to stick to fiscal deficit target, says FM Jaitley
Business

Govt making all efforts to stick to fiscal deficit target, says FM Jaitley

The government will make efforts to keep fiscal deficit within the targeted limit even as investments remain a challenge, Finance Minister Arun Jaitley said today.