Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna has said that small and medium enterprises engaged in trade, manufacturing and restaurants business will benefit under the new limit of the Composition Scheme for the GST. “Everybody will get the benefit, those who are already li…
Tag: Central Board of Excise and Customs (CBEC)
Only 34% service taxpayers move to GSTN, CBEC ups outreach
New Delhi, Apr 27 The revenue department is stepping up its outreach programme, asking taxpayers to register with the GST Network by this month-end as only 34 per cent of the existing service tax assessees have so far migrated to the new payment portal. There are a total of 80 lakh VAT, excise an…
GST portal goes live, software almost ready: GSTN Chairman Navin Kumar
A new and simpler portal for the incoming Goods and Services Tax regime went live that will enable easy filing of returns and tax payments through credit/debit cards and other modes. As much as 60 per cent of the software needed to run GST is ready and GSTN – the company building the gigantic inf…
Boost to exports: Duty drawback facility extended for textiles
The government has extended duty drawback facility for one year on all textile products to boost exports, and has increased rates in some cases for the benefit of Indian exporters. In a notification dated November 1, the Central Board of Excise and Customs (CBEC) extended the duty drawback benefi…
New incentives for garment exporters from Sep 20
In order to boost garment exports, the revenue department has started the process to operationalise the Rs 5,500-crore ROSL scheme from September 20, under which exporters will be compensated for state levies. Presently, exporters get only duty drawback on the central levies imposed during the pr…
Govt to launch programme to address traders concerns on GST
Keen to roll out Goods and Service Tax (GST) by the target date of April 1, 2017, the government will launch an outreach programme to address concerns of small traders. “We are trying to complete GST formalities to roll out GST regime within the target date,” Minister of State for Fin…