This verification is to be completed by June and a status report has to be given to the Central Board of Excise and Customs (CBEC) by July 10. One-third of the remaining claims of 50,000 taxpayers will be verified in three phases -- July-September, October-December and January-March (2019).
According to a member of CBEC, 15 states have already agreed for smooth implementation of intra-state movement along with the interstate movement of goods via e-way bills from February 1.
As per the CBEC circular, imported goods procured under in-bond transfer would be subjected to double taxation, first under IGST Act, 2017.
The Central Board of Excise and Customs (CBEC) had last month started refunds for exporters of goods who have paid IGST and have claimed refund based on shipping bill by filling up Table 6A.
Now exporters of services who paid IGST and those making zero rated supplies to SEZ units as well as those merchant exporters who want to claim refunds for input credit can approach their jurisdictional commissioner with their refund form.
The Central Board of Excise and Customs (CBEC) has shared the zone-wise data of businesses under the Goods and Services Tax (GST) with regional commissioners to handhold them in case they are facing difficulty while filing returns under the new indirect tax regime.
The Central Board of Excise and Customs’ (CBEC) revenue collection target of Rs 9.68 trillion from customs and the Goods & Services Tax (GST) is looking difficult due to the recent roll of GST.
The Central Board of Excise and Customs (CBEC) said it has asked exporters to align their bank account details declared to the customs with that of GST regime.
Out of the Rs 95,000 cr GST revenues in July, more than two third of the amount is up for refund as input tax credit
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).