Department of Revenue Current Affairs, GK & News
The Department of Revenue recently announced that the GST tax payers should compulsorily pay at least 1% of their tax in cash. This is to come into effect from January 1, 2021. 1% Cash Payment Norms The 1% Cash Payment norms is applicable to all the 45,000 taxpayers. This is being introduced to curb tax ..
Category: Economy & Banking Current Affairs
Government of India has now implemented Project ‘SPARROW-CBIC’ for online writing of Annual Performance Appraisal Report (APAR) in SPARROW, for over 46,000 Group ‘B’ and Group ‘C’ Officers of Central Board of Indirect Taxes & Customs (CBIC) working in its various formations all across India. The term SPARROW stands for ‘Smart Performance Appraisal Report Recording ..
Month: Current Affairs - May, 2019
Category: Government Schemes Current Affairs
Topics: Annual Performance Appraisal Report • Apar • CBIC • Central Board of Indirect Taxes & Customs • Central GST • Department of Revenue • DGHRD • Digital India • Directorate General of Human Resource Development • Government of India • Group ‘B’ & Group ‘C’ Officers • IRS (C&CE) • Ministry of Finance • Smart Performance Appraisal Report Recording Online Window • SPARROW-CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has constituted three working groups to suggest ways to facilitate exports, especially through e-commerce, and improve compliance by way of curbing tax evasion. The Working Groups would study and recommend measures to facilitate trade, promote exports and improve compliance. Mandate of Working Groups Export promotion and facilitation ..
Topics: CBIC • Central Board of Indirect Taxes and Customs • Department of Revenue • E-commerce • export competitiveness • export promotion • IGST • logistics services • Ministry of Finance • Tax Evasion
The Union Finance Ministry (Department of Revenue) has imposed anti-dumping dutyon import of ceramic tableware and kitchenware from China in bid to protect domestic producers. Both items will attract anti-dumping duty of $1.04 per kg, making the imports expensive. The protectionist measure against cheap Chinese import was based recommendation of Directorate General of Anti-Dumping and ..
The Department of Revenue (DoR), Finance Ministry has made it mandatory for banks and financial institutions to check original identification documents of individuals dealing in cash above prescribed threshold to weed out use of forged or fake copies. In this regard, DoR has issued an official gazette notification making an amendment to Prevention of Money-laundering ..