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Dhanlaxmi Bank signs MoU with CBDT and CBIC for tax collection

Dhanlaxmi Bank signs MoU with CBDT and CBIC for tax collection : Rashtra News #Dhanlaxmi #Bank #signs #MoU #CBDT #CBIC #tax #collection Dhanlaxmi Bank on Thursday said it has signed a memorandum of understanding with Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) for collection of taxes. The

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National News: Cases should be taken to logical conclusion expeditiously: Sitharaman to DRI

Cases should be taken to logical conclusion expeditiously: Sitharaman to DRI : Rashtra News #Cases #logical #conclusion #expeditiously #Sitharaman #DRI Finance Minister Nirmala Sitharaman stressed on capacity building so that the officials are quick to pick up right intelligence inputs and act on time. Finance Minister Nirmala Sitharaman on Saturday urged officials of intelligence wings

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CBIC: Only principal commissioners or higher officials can probe into GST, other sensitive matters: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has made it mandatory for high-ranking officials, such as the principal commissioner or above, to approve investigations, searches, or questioning in GST matters related to large industrial houses, multinationals, and those with national implications. This move, aimed at minimizing instances of harassment, follows a directive from Finance Minister Nirmala Sitharaman to adopt a more taxpayer-friendly approach. Taxpayers can also approach designated officials of the rank of principal commissioner in case of grievances during an investigation.

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tax slabs: Plan afoot to reclassify items for GST clarity in FMCG sector

The Central Board of Indirect Taxes and Customs (CBIC) is planning to prepare a list of products that end up in litigation due to classification issues. The fitment committee will investigate items with minor changes in composition but different tax slabs, creating confusion in tax liability, particularly in the fast-moving consumer goods (FMCG) sector.

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DGGI cautioned taxpayers about fake summons

The Central Board of Indirect Taxes and Customs (CBIC) has issued a cautionary advisory to taxpayers regarding fake summons sent by fraudsters. Taxpayers are urged to verify the authenticity of any summons received by checking the official CBIC website and reporting suspicious notices to the jurisdiction office immediately. This advisory comes after the Directorate General of GST Intelligence (DGGI) observed instances of individuals sending fake summons to taxpayers, intending to commit fraud.

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BEWARE! Fraudsters Are Sending FAKE Summons For GST Violations, Here's How To Identify Them

Taxpayers can check the veracity of any communication from DGGI/CBIC by using the ‘VERIFY CBIC-DIN’ window on the CBIC’s website. - BEWARE! Fraudsters Are Sending FAKE Summons For GST Violations, Here's How To Identify Them

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Deadline to levy additional duty on unblended diesel deferred

The Indian government has extended the deadline for implementing an additional ₹2 per litre tax on unblended diesel to April 1, 2025. The tax, aimed at promoting biofuels and reducing crude imports, was initially announced in the FY23 budget. The move aligns with India's commitment to enhance domestic crude production, increase ethanol blending, and focus on renewables to cut crude imports by 10% to 67% by 2025.

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CBIC launches two-factor authentication for all e-way bill, e-invoice

CBIC has implemented two-factor authentication for e-waybill and e-invoice systems from December 1, heightening security measures within the goods and services tax systems. The rollout began in Haryana, extending soon to Punjab, Chandigarh, Uttarakhand, Rajasthan, and Delhi in phases before expanding nationwide in the second phase for taxpayers' seamless operation.

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tax: CBIC instructs officials to upload digital summary of tax notices to boost transparency

In a significant move towards transparency and efficiency, tax officials are now required to upload detailed summaries of show cause notices or tax demands raised under the Goods and Services Tax (GST). The Central Board of Indirect Taxes and Customs (CBIC) has recently issued comprehensive internal instructions to field formations, outlining the mandatory practice of digitally summarizing all tax demands and notices.

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cbic: CBIC raises threshold for filing appeals before CESTAT and courts

The Central Board of Indirect Taxes and Customs (CBIC) has increased the threshold for filing appeals before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) by ten times to Rs 50 lakh, aiming to reduce litigations. The thresholds for appeals in high courts and the Supreme Court have been doubled to Rs 1 crore and Rs 2 crore, respectively.

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