CBIC plays crucial role in fight against illicit trade: CBIC Chairman Sanjay Kumar Agarwal

September 28, 2023 4:25 PM

CBIC plays crucial role in fight against illicit trade: CBIC Chairman Sanjay Kumar Agarwal

Chairman of Central Board of Indirect Taxes and Customs (CBIC) Sanjay Kumar Agarwal on Thursday said that tackling the issue of illicit trade is necessary for safeguarding India’s economic stability, ensuring fair competition, and fostering a conducive environment for sustainable growth. Addressing the inaugural session of a two-day conference on Tackling Illicit Trade in New Delhi, Mr. Agarwal said that CBIC plays a crucial role in the fight against illicit trade. The Conference was organized b...

Finance Minister Nirmala Sitharaman directs CBIC to implement action plan to increase taxpayer base through enhanced use of technology

April 29, 2023 8:57 PM

Finance Minister Nirmala Sitharaman directs CBIC to implement action plan to increase taxpayer base through enhanced use of technology

Finance Minister Nirmala Sitharaman has directed the Central Board of Indirect Taxes and Customs (CBIC) to implement an action plan to increase the taxpayer base through enhanced use of technology. Ms Sitharaman said this while chairing a review meeting with CBIC in New Delhi today. She also directed CBIC to introduce its automated GST return scrutiny by next week. During the meeting, the Finance Minister was briefed on the final revenue achievement in total Indirect Tax collections for 2022-23....

Businesses to get 30 days to generate e-invoices for B2B transactions in October: CBIC

October 1, 2020 9:16 AM

Businesses to get 30 days to generate e-invoices for B2B transactions in October: CBIC

Central Board of Indirect Tax and Customs (CBIC) has said that Businesses will have 30 days' time to generate e-invoice for Business to Business transactions for the month of October, 2020.   Under the Goods and Services Tax (GST) law, companies with turnover of over 500 crore rupees will have to generate e-invoice for Business to Business transactions from 1st October.   In March this year, the date of implementation of e-invoice was extended to 1st October, keeping in view the hardshi...

Businesses registered under GST can opt for Aadhaar authentication: CBIC

August 23, 2020 8:43 PM

Businesses registered under GST can opt for Aadhaar authentication: CBIC

Businesses registered under GST can opt for Aadhaar authentication, in absence of which registration would be granted only after physical verification of the place of business.  In a notification, the Central Board of Indirect Taxes and Customs, CBIC said when an applicant for GST registration opts for authentication of Aadhaar number, he will undertake the authentication while submitting an application with effect from 21st of this month.  However, if a person fails to undergo authentication of...

CBIC says, has sanctioned GST refund claims worth Rs 11,052 crore in last 47 days

May 25, 2020 5:13 PM

CBIC says, has sanctioned GST refund claims worth Rs 11,052 crore in last 47 days

The Central Board of Indirect Taxes (CBIC) said that it has sanctioned GST refund claims worth Rs 11,052 crore in last 47 days.     In a tweet, the CBIC said, it is committed to ensuring liquidity to GST tax payers especially MSME sectors during the lockdown.   CBIC further said, 29,230 refund claims amounting to Rs 11,052 crore were disposed of between 8th of April to 24th of May.   The Finance Ministry had on 8th of April said, in order to provide relief during COVID-19, it has been decided to...

Introduction of manual checks in IGST refunds aimed to prevent unscrupulous exporters from defrauding exchequer: CBIC

June 20, 2019 12:23 PM

Introduction of manual checks in IGST refunds aimed to prevent unscrupulous exporters from defrauding exchequer: CBIC

The Centre has assured all genuine exporters that they would continue to get their Integrated Goods and Service Tax (IGST) refunds in a timely manner in a fully automated environment. The Central Board of Indirect Taxes and Customs (CBIC) said, introduction of manual checks in IGST refunds is aimed at preventing unscrupulous exporters from defrauding the exchequer.  The CBIC's clarification came in view of media reports which highlighted a perceived setback to the automated process of r...