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Abolish Revenue Secretary post; merge CBDT, CBEC: Govt panel

Last Updated: Monday, June 16, 2014, 20:58

Recommending far-reaching reforms in tax administration, a government committee has suggested abolition of the post of Revenue Secretary, merger of CBDT and CBEC and broaden the use of Permanent Account Number (PAN).

Govt slashes tariff value on imported gold; raises on silver

Last Updated: Friday, December 13, 2013, 20:23

The government Friday slashed the import tariff value on gold to USD 398 per ten grams while raising it marginally on silver to USD 643 per kg in line with global trends.

Govt slashes tariff value on imported gold & silver

Last Updated: Friday, November 29, 2013, 20:05

The government Friday slashed the import tariff value on gold and silver to USD 405 per ten gram and USD 642 per kg, respectively, in line with global trends.

India slaps $787 per tonne anti-dumping duty on Chinese paracetamol

Last Updated: Wednesday, October 30, 2013, 15:46

The duty has been slapped on recommendation of the Directorate General of Anti-dumping Duty, which carried out a review of the impact of the levy on its import from China.

Tax Reform Commission to submit first report in 6 mths: Shome

Last Updated: Monday, October 21, 2013, 19:26

Tax Administration Reform Commission (TARC), set up by the Finance Ministry to suggest measures to prevent economic offences among other things, held the first meeting Monday and is expected to submit its report in six months.

School bus, canteen, hostel exempt from service tax: Fin Min

Last Updated: Friday, September 20, 2013, 19:41

The Finance Ministry on Friday clarified that "auxiliary educational services" like hostels, canteen and school buses will not attract 12 percent service tax.

CBEC likely to serve Rs 650-crore notice to BMW

Last Updated: Wednesday, May 08, 2013, 22:00

The CBEC is likely to serve a Rs 650-crore show-cause notice to luxury car maker BMW alleging that it imported semi-knocked down cars but paid duty for completely-knocked down car units.

Service tax return for second half of FY13 extended to August

Last Updated: Wednesday, April 24, 2013, 16:02

Government has extended date of e-filing of service tax return for the second half of 2012-13 to August 31, 2013 as the forms will be available by the end of July.

CBEC seeks details of service tax payment from companies

Last Updated: Wednesday, February 06, 2013, 22:32

The Central Board of Excise and Customs (CBEC) has written to such companies to furnish documents regarding the nature of services provided by them, tax paid etc within 10 days of the receipt of the letter.

Experts term CBEC order "draconian"

Last Updated: Wednesday, January 09, 2013, 20:02

Terming the government decision to recover indirect taxes even when stay plea is pending in courts as "draconian", experts said the move has put the trade and industry into a quandary.

CBEC asks officials to expedite tax recovery process

Last Updated: Monday, January 07, 2013, 22:18

Hard-pressed for funds, the revenue department Monday directed its field formation to expedite recovery of indirect taxes in cases where stay order has not been obtained by the assessee from the appellate authorities.

Revenue dept to take legal action against KFA to recover dues

Last Updated: Wednesday, July 18, 2012, 18:51

The service tax department can take Kingfisher to court under Section 76 and 78 of the Finance Act. Under the provisions of the Act, the CBEC can charge up to 200 percent of the tax evaded as penalty.