Goods and Services Tax Network (GSTN) is organizing GST Analytics Hackathon to drive innovation in tax compliance through predictive analytics
The Goods and Services Tax Network (GSTN) is organising the GST Analytics Hackathon, an initiative to drive innovation in tax compliance through predictive analytics. This challenge invites Indian students, researchers, and professionals from startups and companies to develop a predictive model for GST analytics framework. The Hackathon would take place over 45 days from the […]
CBIC clarification regarding CGST audit
Where there is more than one interpretation and likelihood of litigation, change in practice etc in CGST audit, it is desirable that the zonal (Pr.) Chief Commissioner make a self-contained reference to the relevant policy wing of the Board i.e. the GST Policy or TRU.
CBDT clarification in respect of Income-tax clearance certificate (ITCC)
A person can be asked to obtain a tax clearance certificate only after recording the reasons for the same and after taking approval from the Principal Chief Commissioner of Income-tax or Chief Commissioner of Income-tax.
Central government mandates registration by input service providers and manufacturers of machines
Where any person, who is engaged in the manufacture of goods in respect of which any special procedure relating to registration of machines has been notified acts in contravention of the said special procedure, he shall, pay a penalty equal to an amount of one lakh rupees for every machine not so registered.
CBIC measures against fake Input Tax credit
Restriction on generation of e-way bills by non- compliant taxpayers is introduced.
CBIC exempts goods imported to SEZ from GST compensation cess
CBIC has exempted all goods imported by a unit or a developer in the Special Economic Zone for authorized operations, from the whole of goods and service tax compensation cess leviable thereon.
CBIC redefines criteria to qualify as pre-packaged and labelled products
CBIC has clarified that the supply of agricultural farm produce in package(s) of commodities containing quantity of more than 25 kilogram or 25 litre shall not be considered as a supply made within the scope of expression ‘pre-packaged and labelled’ for GST purposes.
CBIC mounts campaign against frauds committed in the name of Indian Customs
In order to counter frauds through public awareness, Central Board of Indirect Taxes and Customs (CBIC) is mounting a multi-modal awareness campaign.
CBIC initiates electronic disbursal of duty drawback amount directly to exporter’s bank accounts through PFMS from today, 5th June 2024
Central Board of Indirect Taxes and Customs (CBIC) will electronically disburse duty drawback amount directly to exporter’s bank account in a transparent and efficient manner with effect from today, 5th June, 2024.
CBIC invites suggestions on draft ‘Central Excise Bill, 2024’ in pre-defined format from stakeholders by 26th June 2024
As a part of the pre-legislative consultative process, the draft ‘Central Excise Bill, 2024’ has been uploaded on the website of CBIC [https://www.cbic.gov.in] for inviting suggestions from the stakeholders within 21 days. The suggestions/ comments on the draft Bill in the above format may be sent by email in PDF format.
