CBIC
Advance and EPCG Authorisation Scheme
The finance ministry has introduced an amnesty scheme aimed at offering relief to traders who have defaulted on their export obligations. This scheme provides an opportunity for traders to rectify past defaults and fulfill their export obligations by paying customs ..
Tags: CBIC • Directorate General of Foreign Trade • export promotion • Ministry of Finance • Traders
Month: Current Affairs - May, 2023
Category: Government Schemes Current Affairs
Central Excise Day 2023
Central Excise Day is an annual event celebrated in India on February 24th to honor the works of Central Board of Indirect Taxes and Customs (CBIC) and mark the enactment of Central Excise and Salt Act. This day is dedicated ..
Tags: CBIC • Central Excise Day • salt law • Tax collection
Month: Current Affairs - February, 2023
Category: Important Days & Events Current Affairs
Digital Forensic Laboratories
Digital Forensic science identifies, processes, acquires and reports electronic evidence. This includes data capturing, emails, smartphone analytics, hard disk retrieval, and other computer analysis tools. With the GST evasions increasing in the country, DGCI has joined hands with NFSU to ..
Tags: CBIC • DGCI • GST tax evasion
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2022
CBIC -Customs Automated System
The Central Board of Indirect Taxes and Customs (CBIC) has announced that it will come out with a list of “identified goods” that will be subject to stricter scrutiny for their true value. The CBIC has notified the Customs (Assistance ..
Tags: CBIC • Customs Automated System • Customs Valuation Rules 2007
Month: Current Affairs - January, 2023
Category: Economy & Banking Current Affairs - 2022
CBIC launches Compliance Information Portal (CIP)
Central Board for Indirect Taxes & Customs (CBIC) have launched the Indian Customs Compliance Information Portal (CIP) at www.cip.icegate.gov.in/CIP. Key Points Portal will provide free access to information on all Customs procedures and regulatory compliance. Information would be provided for ..
Tags: CBIC • Central Board of Indirect Taxes and Customs • Compliance Information Portal (CIP) • Customs Tariff Heading (CTH)
Month: Current Affairs - August, 2021
HSN Code: New rules
The Ministry of Finance recently announced that the businesses with annual turn over of more than Rs 5 crores will have to furnish six-digit HSN code on their tax invoices. The businesses with an annual turn over of less than ..