RARE PHOTOS: Cbic - The Real Truth

GST officers must prove intent to evade tax before invoking fraud provision: CBIC

GST officers cannot invoke fraud, wilful misstatement or suppression provisions merely because tax has not been paid or a discrepancy is found, the CBIC has clarified. Such provisions can be used only where there is specific evidence of deliberate intent to evade tax, and that evidence must be clearly set…

The Economic Times · Oct 27

Has government imposed 5% GST on e-commerce delivery services ahead of Diwali? Income Tax Dept says this

Recent speculation on social media suggests that a new GST has been introduced for e-commerce delivery services. However, the Press Information Bureau has clarified that instead, the GST rate has been lowered from 18% to 5%. This amendment was part of the 57th GST Council meeting recommendations, aiming for a…

The Economic Times · Oct 12

CBIC to step up outreach as EMI scheme struggles to attract manufacturers

The CBIC will conduct outreach programs to encourage EMI scheme adoption. Data and documentation requirements for the scheme have been substantially reduced. This aims to improve cash flow management for eligible manufacturers. The scheme offers deferred Customs duty payment for imported goods. These changes seek to boost domestic manufacturing and…

The Economic Times · Sep 16

Vizhinjam seaport gets final Customs clearance for EXIM operations

Vizhinjam International Seaport secured Customs approval for EXIM operations. Final approval allows the port to commence cargo operations from August 18, 2026. Import operations will be restricted to Full Container Load containers for Direct Port Delivery. Export operations will focus on factory-stuffed, self-sealed FCL containers. This marks a significant milestone…

The Economic Times · Jul 25

India-UK trade pact: CBIC issues guidelines on implementation of self-certification of origin declarations

New guidelines for self-certification of origin declarations are now in effect. This change applies to the India-UK Comprehensive Economic and Trade Agreement starting July fifteenth. The agreement replaces traditional certificates with a self-declaration framework for origin verification. Customs authorities in both nations will manage the authentication process for imports. Origin…

The Economic Times · Jul 13

New GST jurisdiction to handle pending cases after business shift: CBIC

Taxpayers shifting their business location will now have their ongoing tax proceedings seamlessly transferred to the new jurisdictional authority. The Central Board of Indirect Taxes and Customs clarified that any investigations or notices issued by the previous authority remain valid and will be continued by the new one. This move…

The Economic Times · Jun 27

Online gaming money tax dispute: GST to be charged on full value of the deposit, rules Supreme Court, know how it impacts the players

The Supreme Court has settled India's online gaming tax dispute. GST will now be charged on the full value of player deposits, not just the operator's commission. This ruling impacts online rummy, fantasy sports, and casinos. The court confirmed the tax is on the entire stake, regardless of skill. This…

The Economic Times · Jun 12

DRI, Mumbai Customs destroys 31.948 kg of drugs worth Rs 265 crore

A high-level Drug Destruction Committee of CBIC including senior officials of DRI and Mumbai Customs, on Tuesday destroyed 31.948 kg of Narcotics Drugs and Psychotropic Substances (NDPS) worth Rs 265 crore. Read further on Dynamite News:

Dynamite News · Mar 19, 2024

Illegally imported arecanut seized by government should be auctioned at the floor price, says CAMPCO

With the price of arecanut beginning to fall, Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd. (CAMPCO), Mangaluru, on Friday, wrote to Prime Minister Narendra Modi seeking his intervention to ensure that when illegally imported arecanut seized by the government is auctioned the floor price is maintained.

The Hindu · Feb 23, 2024

CBIC issues revised guidelines for reporting arrest, smuggling incidents

CBIC revises guidelines for reporting arrests, smuggling, and frauds by customs officers to enhance risk-based targeting.

The Hindu · Feb 18, 2024