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

RoDTEP Scheme: India notifies Duty Rebate Rates

Centre government notified the rates and guidelines for Remission of Duties and Taxes on Exported Products (RoDTEP) export incentive scheme. Key Points This scheme for zero rating of exports will help in boosting India’s exports and competitiveness across the global markets. Rates under RoDTEP scheme for different sectors have been set as 0.5 per cent, ..

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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 nearly 12,000 Customs Tariff Items. This facilitation tool will empower business as well as any ..

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What is HSN Code?

The Central Board of Indirect Taxes and Customs (CBIC) has made it mandatory to mention the 8 digit HSN code in tax invoices for 49 chemical-based products while issuing GST invoice. The move is expected to reduce tax evasion. HSN or Harmonized System of Nomenclature code is a system for classification of goods across the ..

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Safety of explosives at warehouses in India being checked

The Central Board of Indirect Taxes and Customs has directed the field offices to verify within 48 hours that all explosive materials lying in Customs warehouses and ports are compliant with the safety standards as required and also that they should not pose any kind of danger to the lives of common people. This step ..

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CBDT and CBIC Sign MoU for Exchange of Data

A memorandum of understanding has been signed between the Central Board of Direct Taxes and the Central Board of Indirect Taxes and Customs in order to ensure the smooth exchange of data between the two organizations. This was signed in the presence of the chairman of both the organizations along with other senior officials. It ..

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