The Council, headed by Finance Minister Arun Jaitley, will also review at its meeting the implementation of the new Goods and Services Tax (GST) regime since July 1 and may finalise a mechanism to operationalise anti-profiteering provision to protect consumer interest.
A senior government official said the Central Board of Excise and Customs (CBEC) is trying to ascertain the reasons for businesses not opting for the Composition Scheme that was especially designed to ease compliance burden of small traders.
Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna also said the department is keeping track of revenue trends post the GST rollout from July 1, but actual positions will be known after returns are filed in September.
Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna said there will be genuine errors due to lack of understanding in the initial days.
Govt concerned about people's ease, in terms of pricing, bills that they will be getting, and consumers knowing what they are paying
While the rollout day of July 1 will be known as 'GST Day', all the offices of the Central Board of Excise and Customs (CBEC) have been instructed to be open on Saturday as a trade facilitation measure.
An SEZ area is considered to be a foreign territory for trade operations and duties, and is mainly set up for promoting export.
All the notifications would be effective from June 22.
The Central Board of Excise and Customs (CBEC) in advertisements in leading dailies gave pictorial representations of items which are exempt from Goods and Services Tax and the ones which would attract lower tax of 5 per cent.
The GST Council would likely be focusing on the items that have been left out than re-look or review rates that have already been announced, said Vanaja N Sarna, Chairperson, CBEC.
CBEC chief personally monitoring preparedness; about 400 trade awareness, technical training and GST outreach programmes for tax officials across the country in the next four weeks to ensure a glitch-free rollout
The Appointments Committee of the Cabinet has approved their appointment as members in CBEC, an order issued today by the Department of Personnel and Training stated.
Sarna asked officials of each zone to carry out the outreach at the local level to explain the new structure as also its benefits, registration and compliance.
In a letter to CBEC staff and field officers, Sarna, who took charge on April 1, has asked them to take "urgent steps" to increase awareness of GST among the trade and industry within the short window available before the July 1 rollout.
The Lok Sabha passed the crucial legislations needed to facilitate the historic goods and services tax (GST). In an interview to CNBC-TV18's Shereen Bhan, Najib Shah, Chairman of Central Board of Excise and Customs (CBEC), said that the law is in public domain and the rules will get firmed up in the next meeting of council.
A decision in this regard was taken during a meeting of representatives of All India Association of Central Excise Gazetted Executive Officers and those from Indian Revenue Service (Customs and Central Excise).
Implementation of the Trade Facilitation Agreement (TFA) of the World Trade Organisation (WTO) will bring down the cost of exporters by up to Rs 15,000 per 40 equivalent units (TEU) of container, a senior Central Board for Excise and Customs (CBEC) official said here today.
The revenue department has sought views of industry and exporter bodies on duty drawback rates for exports following implementation of GST from July.
Delhi‘s deputy chief minister and minister of finance, Manish Sisodia, on February 9, 2017, said that keeping land and real estate outside the purview of the Goods and Services Tax (GST) and a higher R
The data which is not matching with the returns profile of an individual will be penalised, he says.
The members of Indian Revenue Service (Customs and Central Excise), All India Association of Central Excise Gazetted Executive Officers, All India Central Excise Inspectors' Association and All India Central Excise and Service Tax Ministerial Officers Association will participate in tomorrow's symbolic protest.
Ahead of the rollout of GST, Finance Minister Arun Jaitley today sought to address concerns of job loss from reduced work of tax officials, saying they should have no insecurity as enough work and opportunities will be available to them in the new indirect tax regime.
PoS devices and sealed secondary cell/batteries containing alkaline or other non-acid electrolytes for use in portable applications have to be mandatorily registered with BIS.
As it targets April 1 rollout of Goods and Services Tax (GST), the CBEC today asked assessees to migrate to the new tax payment portal by January 31.
Lack of consensus on the issue of how the new tax, having central and state elements, would be collected and administered is holding up the supporting legislations on the Goods and Service Tax (GST), which the government is keen on introducing from April 1 next year.