CBIC

NEW DELHI: GST officers can now launch prosecution against offenders in cases where the amount of evasion or misuse of input tax credit is more than Rs 5 crore, the finance ministry has said. However, this monetary threshold will not be…

The Central Board of Indirect Taxes and Customs (CBIC) on Thursday directed field formations to initiate prosecution only after adequate evident and not merely on technical grounds. In a fresh set of instructions, the board said…

The Central Board of Indirect Taxes and Customs (CBIC) has appointed two new members V Rama Mathew and Alok Shukla. The Appointments Committee of the Cabinet has approved the appointment of the two officers to the posts of Members after…

The Finance Ministry has made the unauthorised publication of import-export data a compoundable offence, wherein an offender can avoid prosecution by paying Rs 1 lakh compounding amount. The Budget 2022-23 inserted Section 135AA in the…

A Customs, Excise & Service Tax Appellate Tribunal (CESTAT) on Friday upheld the adjudicating authority's order quashing over-invoicing allegations levelled by the Directorate of Revenue Intelligence (DRI) against Maharashtra Eastern…

India's apex indirect taxes body on Friday issued detailed guidelines, providing clarity on the levy of customs duty on the inputs used in mobile phones. Import of display assembly of cellular mobile phones along with back-support…

The finance ministry on Friday said exemptions specified in Free Trade Agreement (FTA) with regard to country of origin will prevail in case of conflict between revenue department and importer. The Central Board of Indirect Taxes and…

The GST investigation authority has asked field offices not to exercise the power to arrest in a mechanical manner and also refrain from summoning senior management officials like CMDs and CEOs. The investigation authority under the…

The Central Board of Indirect Taxes and Customs (CBIC) has raised the monetary thresholds for prosecution and arrest for customs offences. There will be no prosecution against foreigners and non-resident Indians (NRIs) on detection of…

Ice-cream parlours will attract 18% goods and services tax (GST) with input tax credit, whether sold by a parlour or any similar outlet, the Central Board of Indirect Taxes and Customs (CBIC) said on Wednesday as part of a detailed…