Central Board of Indirect Tax and Customs Current Affairs, GK & News

IGST on Import of Oxygen Concentrators reduced

The Ministry of Finance recently cut the IGST on import of oxygen concentrators for personal use to 12%. Earlier it was 28%. IGST is Integrated Goods and Services Tax. The decision was announced by the Central Board of Indirect taxes and Customs. The changes are being made in accordance to the IGST Act, 2017. Constitutional ..

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CBIC initiates collection of district-wise data on origin of export goods

The Central Board of Indirect Taxes and Customs (CBIC) has recently started to capture district-wise data on origin of export goods. This proposed export information will provide a comprehensive statistical input about the importance of each district, to policymakers. Hence the policies could be aligned with better knowledge of districts and thereby enhancing the local ..

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India to conduct 1st National Time Release Study for faster movement of Cargo

Department of Revenue, under Union Ministry of Finance, is conducting India’s 1st National Time Release Study (TRS) for enabling faster movement of cargo across borders to benefit traders. TRS is an internationally recognized tool advocated by Brussels based World Customs Organization (WCO) to measure efficiency and effectiveness of international trade flows. National Time Release Study ..

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