CBIC seeks inputs to combat ‘gift’ import duty loophole

Recently,the Mumbai Customs department has stopped clearing parcels under the gifts and samples route. According to the Foreign Trade Act,gift items of a value of up to ₹5,000 received from foreign countries to people residing in India are exempted from customs duty. However,there is no cap on the number of gifts an individual can receive.… Continue reading CBIC seeks inputs to combat ‘gift’ import duty loophole

Project ‘SPARROW-CBIC’ for online writing of Annual Performance Appraisal Report (APAR) in SPARROW

Government of India has launched Project Sparrow for online writing of Annual Performance Appraisal Reports (APARs) for over 46,000 Group B & C officers of Central Board of Indirect Taxes & Customs(CBIC). SPARROW stands for Smart Performance Appraisal Report Recording Online Window (SPARROW).It is a project for online writing of Annual Performance Appraisal Report (APAR)… Continue reading Project ‘SPARROW-CBIC’ for online writing of Annual Performance Appraisal Report (APAR) in SPARROW

CBIC organises meeting of Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi

Central Board of Indirect Taxes and Customs (CBIC) is organising a meeting of the Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi,Kerala. India is hosting this meeting in its capacity as Vice Chair of the Asia Pacific region for a two-year period from July, 2018 to… Continue reading CBIC organises meeting of Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi

GST: jewellery set to turn cheaper

The Central Board of Indirect Taxes and Customs (CBIC) has said that the Tax Collected at Source(TCS) amount would be excluded from the value of goods while computing the Goods and Services Tax (GST) liability.It is expected to provide relief to the buyers of cars and jewellery, Tax Collected at Source (TCS) is an income… Continue reading GST: jewellery set to turn cheaper

CBIC working groups to boost exports

The Central Board of Indirect taxes(CBIC) has set up 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 will focus on (a) improving the legislative structure of customs tariff and update it to suit the emerging and future needs of… Continue reading CBIC working groups to boost exports