CBIC

CBIC exempts banks, financial institutions, exports from dynamic QR Code on e-invoices

Dynamic QR code for B2C transactions is meant to encourage digital payments by the buyers but can potentially be used to check tax leakages...

CBIC addresses IGST refund issues of exporters

"It is seen that a considerable number of exporters have been facing difficulties in getting their IGST refund sanctioned either due to lac...

Gujarat HC bars CBIC from making spot recovery during inspections

The Court has said that strict disciplinary action should be taken against officers that do not follow the directive in this regard.

Working to change people's perception about I-T dept to being 'tax facilitators' : CBDT chief

Central Board of Direct Taxes (CBDT), the apex decision making body in matters of income tax, has taken up various taxpayer-friendly moves,...

Maharashtra govt to issue own trade circulars as opposed to following CBIC

Under GST, joint decisions are taken by Centre and states at the GST Council and implemented across the economy irrespective of tax jurisdi...

CBIC bars officers from attending non-govt webinars, conferences

The instructions were issued to all field units on January 12, and strict compliance without exception has been mandated.

Government crackdown on 7,000 GST evaders, 185 arrested

The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pi...

Govt eases courier import norms for Covid vaccines

The CBIC has amended the Courier Imports and Exports (Electronic Declaration and Processing) regulations allowing for import of vaccine whi...

New Year gift to Karnataka: Centre clears Rs 1702 cr for Tumakuru industrial node

The Centre has approved funding support of Rs 1702 crore to Karnataka to develop Tumakuru node as the next big industrial hub in what top o...

CBIC permits import and export of coronavirus vaccines through courier

CBIC has amended the Courier Imports and Exports (Electronic Declaration and Processing) regulation to allow for temporary import and re-ex...

Union Cabinet approves multi-modal logistics hub at Greater Noida

The Union Cabinet also approved a proposal to set up industrial corridor nodes at Krishnapatnam and Tumakuru under CBIC, said Minister of I...

Input tax credit restriction may face legal hurdles

The CBIC made some significant changes to the central goods and service tax Act such that from January 1, 2021 the present eligibility limi...

Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash

“... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in ...

CBIC instructs field offices to streamline verification of COOs under CARTOR rules

The Board said in a letter dated December 17 to field units that enquiries on origin of imported goods should be raised only where there ar...

CBIC waives penalty on QR code on e-invoices till March 31, 2021

QR code for B2C transactions is meant to encourage digital payments by the buyers but can potentially be used to check tax leakages as well...

CBIC asks for physical verification of biz granted deemed GST registration between August 21-November 16

The Central Board of Indirect Taxes and Customs (CBIC) has also asked taxmen not to grant GST registration on deemed basis in cases where t...

CBIC issues new rules for outward supplies

From January 1, 2021, quarterly return filers will have to furnish business to business invoices for the first two months of the quarter, t...