News

CBIC starts electronic disbursal of duty drawback directly to exporters' bank accounts Central Board of Indirect Taxes and Customs (CBIC) has started to electronically disburse duty drawback amounts directly to the bank accounts of exporters in order to facilitate trade, the Finance Ministry said on Wednesday.  ''The payment of duty drawback amounts into the exporters' accounts will be facilitated through the Public Finance Management System (PFMS) automatically. This is another initiative of the CBIC towards paperless Customs and enhanced trade facilitation...
CBIC starts electronic disbursal of duty drawback directly to exporters' bank accounts
CBIC starts electronic disbursal of duty drawback directly to exporters' bank accounts
Source: IANS
2024-06-06 10:03:35 am
FM Nirmala Sitharaman launches Rs 1,000 cr worth infra projects Union Finance Minister Nirmala Sitharaman on Friday virtually launched seven infrastructure projects worth over Rs 1,000 crore that include residential and office complexes for government officials. The Finance Minister said that projects like these renew confidence and boosts morale of the officials that the government continues to provide for their welfare and well-being. For the Central Board of Direct Taxes (CBDT), the Finance Minister laid the foundation stone for the construction ...
FM Nirmala Sitharaman launches Rs 1,000 cr worth infra projects
FM Nirmala Sitharaman launches Rs 1,000 cr worth infra projects
Source: IANS
2024-03-02 09:08:30 am
Government extends Customs duty exemption on masoor dal till March 2025 The government on Friday extended the Customs duty exemption on masoor dal by a year to March 2025 in order to keep food inflation in check. This exemption, effective since October 2021, will now last until March 31, 2025, as opposed to the earlier notification of March 31, 2024 according to an order issued by the Central Board of Indirect Taxes and Customs (CBIC). Food inflation, which accounts for nearly half of the overall consumer price basket, rose by 8.7 per cent during November c...
Government extends Customs duty exemption on masoor dal till March 2025
Government extends Customs duty exemption on masoor dal till March 2025
Source: IANS
2023-12-23 10:15:34 am
Growth in October GST mop-up owing to economic activity: CBIC chief The Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal has said the growth in October Goods and Services Tax (GST) collections, which is the second highest ever, is on account of economic activity and not due to show cause notices to online gaming companies. Goods and Services Tax revenue in October grew 13.4 per cent to Rs 1.72 lakh crore. GST collection in October is the second highest ever since roll-out on July 1, 2017. In April, the mop-up was highest at Rs ...
Growth in October GST mop-up owing to economic activity: CBIC chief
Growth in October GST mop-up owing to economic activity: CBIC chief
Source: Accord Fintech
2023-11-09 11:18:06 am
Increased monthly GST collections mainly on account of higher compliance: CBIC chief Central Board of Indirect Taxes and Customs (CBIC) chief Sanjay Kumar Agarwal has said that increased monthly GST collections are mainly on account of higher compliance, and the GST Council?s decision to tighten return filing and registration process would help reduce fake ITC claims in evasion prone sectors, including iron and steel. He said the CBIC has received suggestions regarding streamlining tax rates in evasion-prone sectors and all that is being discussed. The Goods and Services Tax ...
Increased monthly GST collections mainly on account of higher compliance: CBIC chief
Increased monthly GST collections mainly on account of higher compliance: CBIC chief
Source: Accord Fintech
2023-09-29 02:01:03 pm