Central Excise

Denying GST input credit, tax cut benefits: Decoy or actual customers, profiteering charge is difficult to stick

Now there are reports that the GST officials are going to fan out to different stores as decoy customers, make a purchase of the product of an FMCG major suspected of profiteering.

GST will make domestic firms more competitive, streamline taxation, says Hasmukh Adhia

Adhia's comments come amid calls from some experts and a section of the industry for deferring the GST roll-out to September-October instead from July 1.

GST Bills passed in Lok Sabha; Parliament may lose powers, warns Congress

Replying to the seven-hour-long debate, Finance Minister Arun Jaitley said the GST which will usher in a uniform indirect tax regime in the country and will make commodities "slightly cheaper".

To accelerate economy, much-touted GST reform should be passed

The need of the hour is to accelerate the economy and promote consumption, while paving the way for the much-touting reform of GST.

Finance ministry makes PAN mandatory for service tax registration

The registration shall mandatorily require that the PAN number of the proprietor or the legal entity being registered should be quoted in the application except for government departments, it said.

Goa mining ban causes Rs 35-cr service tax loss

The ban on iron ore mining in Goa has hit the revenue collection by causing a loss of Rs 35 crore since September 2012, a senior official said on Tuesday.

'Better tax mop up,savings to help improve FY13 fiscal deficit'

Better tax realisation and some savings on expenditure may help trim the fiscal deficit to around 5.1 per cent of the GDP for 2012-13, Finance Ministry sources said.

Now, CBEC freezes Kingfisher bank accounts for tax defaults

The Central Board of Excise and Customs (CBEC) today said that it has frozen the bank accounts of Kingfisher Airlines for its failure to pay service tax arrears.

Cross border tax evasion of Rs 9,951 cr detected in last three years

In the current fiscal through September, 672 cases have been detected and the value of tax evasion was Rs 1,379.57 crore, Finance Minister Arun Jaitley said in a written reply to Lok Sabha.

Central Excise slaps Rs 4.6-crore tax notice on Indian Oil

The Directorate General of Central Excise Intelligence (DGCEI) has issued a show cause-cum-demand notice of over Rs 4.6 crore to the nation's largest oil firm Indian Oil Corporation for not paying service tax under the head of a 'goods transport agency'.