Central Board Of Indirect Taxes

Central Board Of Indirect Taxes News

Don't overreach, overstate; act with a bit of restraint, says Finance Minister Nirmala Sitharaman to tax authorities
Business

Don't overreach, overstate; act with a bit of restraint, says Finance Minister Nirmala Sitharaman to tax authorities

Meeting targets within deadlines was achievable even if they go about it with a bit of a "restraint", Nirmala Sitharaman said

IL&FS crisis: Debt-laden firm closes 45 entities accused of round-tripping funds, halves workforce to 8,000
Business

IL&FS crisis: Debt-laden firm closes 45 entities accused of round-tripping funds, halves workforce to 8,000

The exercise to close these companies was also an attempt to simplify the complex structure at IL&FS

Piyush Goyal asks taxmen to refrain from being overzealous, advises industry to pay taxes ethically
Business

Piyush Goyal asks taxmen to refrain from being overzealous, advises industry to pay taxes ethically

Finance Minister Piyush Goyal on Friday asked tax officers to refrain from being overzealous in tax administration while appealing the industry to conduct business ethically

Petrol, diesel rates on the rise again: Knee-jerk cut in taxes may calm down public temper transiently but makes little economic sense
Business

Petrol, diesel rates on the rise again: Knee-jerk cut in taxes may calm down public temper transiently but makes little economic sense

Petroleum products are sitting ducks in view of their inelastic demand which emboldens the government to tax it as it pleases as evident by the approximate 25 percent central excise and approximate 25 percent state VAT on petroleum products together accounting for nearly 50 percent of the petrol bunk price

Bitcoins: Why there is a case for Indian govt, regulators to embrace cryptocurrency market
Business

Bitcoins: Why there is a case for Indian govt, regulators to embrace cryptocurrency market

The treatment for bitcoins would be ideal if the government were to legalise the trading of these currencies.

Govt rectifies anomaly, allows law enforcement agencies to hold confiscated currency notes beyond specified limits
Business

Govt rectifies anomaly, allows law enforcement agencies to hold confiscated currency notes beyond specified limits

Under the Specified Bank Notes (Cessation of Liabilities) Act, 2017, banned currency notes beyond a certain limit could be held only by the Reserve Bank, its agencies, or other person authorised by it