CBIC

The first phase of the 'faceless assessment' for imported goods was introduced in the first week of June this year at Bengaluru and Chennai Customs zones

The Faceless Assessment is being rolled out under the umbrella of the next generational Turant Customs programme.

Though notification comes with effect from September, Centre assures that the same will apply from retrospective effect after all-round criticism

In April, the Central Board of Indirect Taxes and Customs had issued guidelines for conducting personal hearing in virtual mode for appeals under Customs Act

The Central Board of Indirect Taxes and Customs (CBIC) said this precautionary step has been taken in view of the recent incident of an explosion in a foreign country caused by such material

The CBIC has invited comments on the same by August 21. A comprehensive review would be undertaken by September

The finance ministry said important developments such as the incorporation of GST Network and advancement of technology have duly been incorporated in the MoU

The re-import in the extended period would be without payment of basic customs duty and integrated goods and services tax

The extended time period would be available to exporters to bring back cut and polished diamonds after due certification and grading by specified laboratories abroad

The meeting was headed by Chairman NK Singh with Finance and Revenue Secretary Ajay Bhushan Pandey, CBDT Chairman Pramod Chandra Mody and CBIC Chairman M Ajit Kumar

The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers had been extended till July 15, 2020 on April 3, 2020

Freezing hiring, curtailing allowances, and merging of job categories also on the cards

Government aims to cost cuts, scientists warns Covid-19 could be airborne and India's IT sector is forced to lay off employees.

Taxpayers willing to file GSTR-1 have to send SMS to 14409 to initiate the SMS facility

The CBIC said a blanket exemption of late fee would be unfair towards taxpayers who filed their February, March and April GST sales returns within the extended due date

The CBIC has issued detailed instructions appointing nodal commissioners for the purpose of administratively monitoring the assessment practice in respect of imported goods

GSTR-2A is a purchase return auto-generated by the GST system based on the transaction between a business and its supplier.

These remunerations would be treated as fees for professional or technical services

CBIC had in April extended the validity of e-way bills generated on or before March 24 and having expiry between March 20 and April 15 till April 30

Centralised AAR was, in fact, already approved by GST Council and Cabinet over a year ago