CBIC's latest GST circular clears air over several key issues such as how to calculate 20% amount over and above the eligible amount of ITC, cut-off dates and where the new rule will not be applicable.
Taking a cue from the income tax department that employs third parties to report on high-value transactions of various kind in order to verify the veracity of tax filings by individuals, the Central Board of Excise and Custom
The two revenue collection arms of the central government--the CBDT and CBEC--will jointly hold their annual brainstorming session for the first time later this month which will be inaugurated by Prime Minister Narendra Modi.
With sustained efforts by the government, the number of taxpayers in the country has risen to 5.7 crore for assessment year (AY) 2016-17 from the 5.43 crore seen last year, revenue secretary Hasmukh Adhia told FE
Irked by extensive delays in passing adjudication orders, the central board of excise and customs (CBEC) has rapped its field officials and asked them to strictly adhere to the time limit for passing adjudication orders, caut