CBIC releases National Time Release Study (NTRS) 2024
CBIC, along with other Members of the Board, released the National Time Release Study (NTRS) 2024 report.
Category: Press Release
CBDT awards Taxnet 2.0 Project to M/s Bharti-Airtel Ltd
CBDT has awarded the Taxnet 2.0 project to M/s Bharti-Airtel Ltd for providing network connectivity, facility management services and video conferencing services to the Income Tax Department (ITD), subsequent to approval by the Government.
Pre-Budget consultation meetings for the forthcoming Union Budget 2024-25 conclude in New Delhi
The Pre-Budget consultations for Union Budget 2024-25 that started from 19th June 2024 onward in the Ministry of Finance and chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, concluded on 5th July 2024.
DGFT implements system-driven rule based Faceless Automation for ad-hoc Input Output Norms Fixation
In line with ongoing efforts to modernize and streamline foreign trade procedures the Directorate General of Foreign Trade (DGFT) has decided that ad-hoc Input Output Norms will be determined through a rule-based, system-driven process, with the aim of improving the ease of doing business for exporters while reducing time and effort for both DGFT and concerned exporters.
Gross Direct Tax collections for the Financial Year (FY) 2024-25 register a growth of 22.19%
The provisional figures of Direct Tax collections for the Financial Year 2024-25 (as on 17.06.2024) show that Net collections are at Rs. 4,62,664 crore, compared to Rs. 3,82,414 crore in the corresponding period of the preceding Financial Year (i.e. FY 2023-24), representing an increase of 20.99%.
CBIC mounts campaign against frauds committed in the name of Indian Customs
Various incidents have come to light through news portals/social media platforms of fraudulent persons posing as Indian Customs officers cheating the public of their hard-earned money across the country. In order to counter these frauds through public awareness, CBIC is mounting a multi-modal awareness campaign that includes:
Smt. Nirmala Sitharaman assumes charge as the Union Minister for Finance and Corporate Affairs
Smt. Nirmala Sitharaman assumed charge today as the Union Minister of Finance & Corporate Affairs in New Delhi.
Centre releases Rs. 1,39,750 crore installment of Tax Devolution to States
With today’s release, total Rs. 2,79,500 crore devolved to States for FY2024-25 till 10th June 2024
Exchange Rate Notification No. 40/2024- Customs (N.T.)
CBIC issued Notification No. 40/2024 – Customs (N.T.) dated 06.06.2024 to hereby determine that the rate of exchange of conversion of each of the foreign currencies into India currency or vice versa effective from 07.06.2024.
CBIC initiates electronic disbursal of duty drawback amount directly to exporter’s bank accounts through PFMS from 5th June 2024
In an effort to facilitate trade, Central Board of Indirect Taxes and Customs (CBIC) will electronically disburse duty drawback amount directly to exporter’s bank account in a transparent and efficient manner with effect from today, 5th June, 2024.