Cbic

Businesses should avoid aggressive short-term reward-seeking culture: RBI Governor

Shaktikanta Das said doing business involves risk taking, but before taking the risk, the upside and downside will have to be carefully considered

Around 42,000 kgs narcotics to be destroyed across 14 locations 

The union minister for Finance and Corporate Affairs Nirmala Sitharaman would be virtually witnessing the destruction process held at Guwahati, Lucknow, Mumbai, Mundra/Kandla, Patna and Siliguri and would be addressing the officers

GST Council to discuss waiver of late fee for August 2017 to January 2020; next meeting to be held on 14 June

The CBIC said late fee is imposed to ensure that the taxpayers file return in time and pay taxes on the amount collected from buyers and due to the government.

Govt extends last date for filing annual GST return for FY19 by 3 months till September

The government has extended the last date for filing annual GST return for the financial year 2018-19 by three months till September 2020

Coronavirus Outbreak: Businesses can claim GST refund for cancellation of services, goods contract

With aviation and hospitality sectors seeing mass cancellation of bookings following Covid-19 outbreak, the CBIC has allowed businesses to claim refund of GST in cases where invoice was generated but was subsequently cancelled

Coronavirus Outbreak: CBIC launches e-gate passes to expedite import clearance process

The revenue department has launched electronic delivery of gate passes and final bills of entry to customs brokers and importers with an aim to further simplify the import clearance process by reducing human interface and help tackle the scourge of Covid-19

Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns

The Sabka Vishwas Scheme, which became operational on 1 September 2019, provides a one-time window to eligible persons to declare their tax dues and pay the same in accordance with the provisions.

CBIC asks DGFT to tighten accreditation process of star exporters for curbing tax fraud

The Central Board of Indirect Taxes and Customs (CBIC) has asked the Directorate General of Foreign Trade to make the accreditation system for star exporters more robust to curb tax fraud

Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise

The Finance Ministry on Tuesday extended the 'Sabka Vishwas Scheme', a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and central excise, by 15 days till 15 January

Nirmala Sitharaman holds first pre-Budget consultations with representatives of digital economy, startups

Sitharaman is likely to present her second Budget for the Modi 2.0 government in Parliament on 1 February.