CBIC

The Central Board of Indirect Taxes and Customs (CBIC) will soon come out with a detailed standard operating procedure (SOP) for serving summons and notices under the goods and services tax (GST) regime, to prevent harassment of…

All entities in the entire supply chain will not be penalised as part of action taken on fake invoices, Central Board of Indirect Taxes and Customs(CBIC) has clarified. In a detailed clarification, CBIC on Friday said the recipient of…

India could consider a significant shift in the Goods and Services Tax (GST) including a jurisdiction-free regime as part of the next set of reforms for the five-year-old indirect tax system. New Delhi, which raised the import duty on…

NEW DELHI: A wide range of benefits such as free beverages, canteen facilities, free parking space, journal subscriptions or even group medical insurance provided by business entities to its employees in terms of a contractual agreement…

GST-registered businesses with annual turnover of more than Rs 5 crore will soon have to generate electronic invoices for B2B transactions, a top official said on Thursday. Central Board of Indirect Taxes and Customs (CBIC) Chairman…

In a relief to businesses, the government has exempted small taxpayers (with turnover up to ₹2 crore) from filing annual returns for 2021-22, allowing a claim of refund on inputs used in the generation of electricity and extending the…

The importers may now submit their grievances for the delay in the bill of entry (BE) clearance, anonymously under faceless assessment, a move which will ensure quicker clearance of goods. The Central Board of Indirect Taxes and Customs…

Terming GST as the biggest indirect tax reform in the history of independent India, CII on Friday said it helped in creating a unified market across states, simplified the indirect tax structure for the industry and also brought about…

After the recommendations that were taken up in the two-day 47th GST Council meeting in Chandigarh on Wednesday, the Goods and Services Tax (GST) were hiked for numerous items including LED lamps, solar water heater and various job…

A local Mumbai court has issued a non-bailable warrant against the alleged kingpin of an iPhone smuggling racket recently unearthed by the Mumbai unit of the Directorate of Revenue of Intelligence (DRI). The NBW was issued after the…