Goods and Services Tax : Get a detailed summary of the latest GST notifications and circulars issued on 10 July 2024, including changes in GSTR 1, ISD mech...
Goods and Services Tax : Discover the GST place of supply for custodial services provided by Indian banks to Foreign Portfolio Investors (FPIs), clarified ...
Goods and Services Tax : Stay informed on the latest GST developments, including new CBIC instructions, important case laws, and the formation of the GST A...
DGFT : Explore pervasive corruption within JNCH Customs, its impact on exporters, and urgent need for comprehensive reforms to restore in...
Goods and Services Tax : Explore the influence of Reverse Charge Mechanism (RCM) on GST with practical examples. Learn how RCM works, its applicability, an...
Custom Duty : Discover how CBIC's new Exchange Rate Automation Module (ERAM) simplifies trade with 22 currency exchange rates online. Learn more...
Custom Duty : Learn how CBIC is tackling frauds by imposters posing as Indian Customs officers. Stay safe with tips on identifying scams and pro...
DGFT : CBIC introduces electronic disbursal of duty drawback directly to exporter's bank accounts via PFMS, enhancing transparency and ef...
Excise Duty : CBIC, under the Ministry of Finance, seeks feedback on the proposed Central Excise Bill 2024. Stakeholders can submit suggestions ...
CA, CS, CMA : NACIN and NADT collaborate on sharing resources, tech, and best practices: Memorandum of Understanding signed. #MoU #NACIN #NADT...
Goods and Services Tax : Read the Madras High Court's judgment setting aside an unreasoned GST demand order against Ford India, citing GSTR 9 and GSTR 2A m...
Goods and Services Tax : Madras High Court directs release of Mane Kancor's seized goods upon production of delivery challans, challenging detention and pe...
Custom Duty : xplore the case of Shakti Cargo Movers vs. Commissioner of Customs at CESTAT Delhi, where the court ruled that a customs broker ca...
Goods and Services Tax : Analysis of Gallantt Ispat Limited vs Union of India case in Allahabad HC, focusing on tax recovery and investigation guidelines....
Custom Duty : Once a export benefit under which shipping bill was filed has been availed, the conversion to any other scheme cannot be allowed a...
Custom Duty : Explore Customs Notification No. 48/2024 by CBIC, detailing the appointment of adjudicating authorities for M/s Avlock Internation...
Excise Duty : CBIC revises monetary limits for adjudicating show cause notices in Central Excise for commodities under Chapter 24 of Schedule IV...
Goods and Services Tax : Explore CBIC's latest newsletter marking 7 years of GST, commendations to officers, global customs agreements, anti-drug initiativ...
Custom Duty : Discover the new Exchange Rate Automation Module (ERAM) by CBIC, ensuring automated, accurate, and timely updates for customs exch...
Corporate Law : Discover the new guidelines for SEZ Developers on procuring and installing solar panels to provide power supply in common areas of...
Tariff Notification No. 63/2021-Customs (N.T.), Dated: 30.07.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 63/2021-Customs (N.T.), Dated: 30.07.2021 New Delhi, S.O. 3068(E).—In exercise of the powers conferred by sub-section […]
To give relief to consumers, the Government has reduced Customs Duty on Mosur Dal from 30% to 10%. (Basic Customs Duty reduced from 10% to ‘Nil’ and Agriculture Infrastructure Development Cess reduced from 20% to 10%). This will bring down the retail price of Mosur Dal. seeks to amend notification No.50/2017-Customs, dated the 30th June, […]
On the Anti-smuggling front, acting on specific intelligence, officers of DRI Siliguri Regional Unit intercepted a vehicle coming from Guwahati and moving towards Lucknow. On thorough rummaging, 50 gold biscuits of foreign origin weighing about 8.3 Kg with an approximate value of Rs. 4.07 crore were found concealed in the said vehicle. The vehicle was seized and two persons have been arrested.
On the GST front, by innovating and using the recently introduced `RFID-Vehicle related Report’, an analysis of risky vehicles was undertaken by the officers of DGGI (SZU). The verification revealed that iron scrap was being supplied by existent but un-registered firms under the invoices for GST ITC of non-existent and bogus firms. Envelopes recovered from the drivers of the detained trucks contained the invoices of fake firms whose invoices are used for passing of ITC as well as the firms actually supplying the goods. The total ITC passed on by the above-mentioned non-existent firms is Rs. 14.48 Crore.
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 2nd July, 2021, vide Notification No. 57/2021 – Customs (N.T.) | Dated: 1st July, 2021 Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) New Delhi ***** Notification No. 57/2021-Customs (N.T.) | Dated: 1st […]
GST is the perfect and most shining example of Cooperative Federalism in the country. It is driven by the spirit of a common objective for the benefit of the nation as a whole. I extend. on the occasion of its fourth anniversary, on behalf of the Board and on my personal behalf, a sincere thanks and greetings to you and to all the stakeholders, especially the taxpayers.
Board vide Customs Notification No. 56/2021 -Customs (N.T) dated 30.06.2021 has extended the transitional provisions of SCMTR till 31st July 2021 for to enable carriers continue mandatory filing on parallel basis.
CRCL and other Revenue Laboratories have been upgraded with several new, state of the art equipment, thereby enabling the testing of a wider variety of commodities in lesser time, with greater accuracy. For details, the CRCL brochure available at crcl.gov.in may be perused.
The notfns issued by CBIC on 14.6.2021 are totally revenue oriented & are against the ratio decidendi of Delhi High court judgment in the case of Gurcharan Singh v. Ministry of Finance & Ors.(2021) J.K.Jain’s GST & VR 493, against which the Govt. has intentionally obtained stay in the case of Ministry of Finance (Deptt. of […]
The 44th GST Council Meeting was held on 12th June, 2021 with a single agenda point to discuss the report of the Group of Ministers for GST concessions on Covid-relief items. The Council recommended reducing GST rates on specified items being used for Covid-19 relief and management till 30th September, 2021.
