central board of indirect taxes and

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…

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 Comptroller and Auditor General (CAG) on Monday recommended that the indirect tax department should complete the verification of transitional credit allowed under the GST mechanism. As part of transition to GST with effect from July…

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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…

GST registered businesses with annual turnover of Rs 10 crore or more will have to generate e-invoices for B2B transactions from October 1, the finance ministry said. Currently, businesses with turnover of Rs 20 crore and above are…

A proposal for a completely paperless customs compliance framework for special economic zones (SEZs) is being reviewed by the Central Board of Indirect Taxes and Customs (CBIC), said officials. The framework will be in sync with new…

The Central Board of Indirect Taxes and Customs (CBIC) on Sunday clarified that all pre-packaged items containing a quantity up to 25 Kg, will attract a GST of 5%. The CBIC said that the items, which are pre-packaged in above 25 Kg, in a…

The Central Board of Indirect Taxes and Customs (CBIC) has released a concept paper, suggesting comprehensive changes in the GSTR-3B - a self-declared summary of goods and services tax (GST) returns filed by taxpayers - to make…

The Central Board of Indirect Taxes and Customs (CBIC) has notified controlled delivery regulation, which allows customs officials to install tracking devices to monitor the movement of "suspect" consignments, as a measure to curb…