CBDT issues Instruction No. 01/2022 regarding Implementation of Hon. Supreme Court’s Judgment in Union of India vs. Ashish Agrawal dated 04.05.2022 Instruction No. 01/2022 | Dated: 11th May, 2022 F. No 279/Misc./M-51/2022-ITJ Ministry of Finance Department of Revenue Central Board of Direct Taxes ITJ Section New Delhi Subject: Implementation of the judgment of the Hon’ble Supreme Court dated 04.05.2022 […]
CBDT Issues Guidelines for compulsory selection of Income Tax returns for Complete Scrutiny during the Financial Year 2022-23 and procedure for compulsory selection in such cases vide Instruction No. F.No.225/ 81/2022/ITA-II Dated: 11th May, 2022. CBDT notifies Scrutiny criteria/Guideline for following parameters for compulsory selection of returns for Complete Scrutiny- 1. Cases pertaining to survey […]
On the Anti-Evasion side, on the basis of a specific input from the National Customs Targeting Centre, officers of Delhi Customs Preventive Commissionerate intercepted a consignment declared as Photocopy Paper at ICD Palwal, Haryana. Examination of the consignment revealed that except the front row, the consignment contained more than 79,00,000 cigarettes having an approximate value in excess of Rs. 15 Crore. Kudos to the officers for a fantastic detection.
Last week also ended with extremely good news on revenue! GST collections for the month of April, 2022 stood in excess of Rs. 1.67 Lakh Crore. This is 20% higher than the corresponding month of last year.
Provision for extending benefits under CCS (Pension) Rules or CCS (EOP) Rules to family of missing Central Government employees covered under National Pension System (NPS)-reg.
Reference is invited to notification No. 28/2021-Customs dated 24th April, 2021 that sought to exempt customs duty and health cess on import of oxygen, oxygen related equipment and COVID-19 vaccines, up to 30th September, 2021.
On the Anti-Evasion side, on the basis of scrutiny of returns, Officers of CGST Delhi (South) Commissionerate detected a case of excess availment of Input Tax Credit amounting to more than Rs. 94 Crores. The entire amount has since been recovered. Kudos to the officers for their diligence.
There shall be established a National Risk Management Committee for Customs and GST. The DGARM, Delhi will be the nodal agency responsible for convening the NRMC meeting to review the functioning of the NCTC-Cargo, NCTC(Pax) and the GST Business Analytics Wing.
Local Committees to deal with Taxpayers’ Grievances from High-Pitched Scrutiny Assessment (‘Local Committees’) are required to be constituted in each Pr.CCIT region across the country including the Pr.CCIT (Exemption) and Pr.CCIT (International Taxation).
Time management is often the most crucial attribute of successful individuals and for most efficient organizations. This week, in order to have a better understanding of time taken for various Customs processes, the National Time Release Study (NTRS) 2022 was released. The study covered 15 major Customs formations and was complemented with a number of local TRSs.
