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The Latest Breaking News from CBIC

Online gaming money tax dispute: GST to be charged on full value of the deposit, rules Supreme Court, know how it impacts the players

The Supreme Court has settled India's online gaming tax dispute. GST will now be charged on the full value of player deposits, not just the operator's commission. This ruling impacts online rummy, fantasy sports, and casinos. The court confirmed the tax is on the entire stake, regardless of skill. This…

The Economic Times

DRI, Mumbai Customs destroys 31.948 kg of drugs worth Rs 265 crore

A high-level Drug Destruction Committee of CBIC including senior officials of DRI and Mumbai Customs, on Tuesday destroyed 31.948 kg of Narcotics Drugs and Psychotropic Substances (NDPS) worth Rs 265 crore. Read further on Dynamite News:

Dynamite News

Illegally imported arecanut seized by government should be auctioned at the floor price, says CAMPCO

With the price of arecanut beginning to fall, Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd. (CAMPCO), Mangaluru, on Friday, wrote to Prime Minister Narendra Modi seeking his intervention to ensure that when illegally imported arecanut seized by the government is auctioned the floor price is maintained.

The Hindu

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CBIC issues revised guidelines for reporting arrest, smuggling incidents

CBIC revises guidelines for reporting arrests, smuggling, and frauds by customs officers to enhance risk-based targeting.

The Hindu

"Gangajal is exempted from GST", clarifies govt after Congress mounts attack

The Central government on Thursday clarified that 'Gangajal', water of the Ganga river used during prayers by households across the country, is exempted from Goods and Services Tax (GST). Read further on Dynamite News:

Dynamite News

Show cause notices to e-gaming cos as per legal provisions, GST demand based on data analysis: CBIC chief

CBIC issues show cause notices to e-gaming companies for alleged GST evasion. 28% GST to be levied on online gaming, casinos and horse racing from October 1. GST Council had approved amendments in law to include online gaming, casinos and horse racing as taxable actionable claims.

The Hindu

Around 12,500 fake entities found in GST; biometric authentication, tighter return filing planned

A pilot project on biometric authentication and geo-tagging was already under way in a couple of States

The Hindu

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Monthly GST revenue at Rs 1.50 lakh crore to be new normal next fiscal: CBIC chief

NEW DELHI: Monthly GST collection is expected to average around Rs 1.50 lakh crore and it will be the ‘new normal' in FY24 in view of concerted efforts to check evasion and bring new businesses within the GST net, Central Board of Indirect Taxes and Customs (CBIC) chief Vivek Johri…

The Times of India

CBIC asks taxmen to verify invoice details in ITC mismatch cases during GST audit for FY18, FY19

NEW DELHI: The CBIC has asked tax officers to verify details of invoices to resolve mismatches in ITC claims which have come up during the GST audit for 2017-18 and 2018-19.

The Times of India

Be on high alert against drug smuggling, ensure logical conclusion in each case: Finance minister to customs officers

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday asked Customs officers to be on high alert to curb smuggling of drugs and bring the cases to their logical conclusion at the earliest.

The Times of India

Slow GST portal: CBIC mulls extending September returns filing due date

NEW DELHI: With taxpayers facing slow functioning of the GSTN portal, CBIC on Thursday said it is examining the proposal of extending the deadline for filing GST returns for September.

The Times of India

Reining in overreach: On arrests and summons under GST law

Setting higher requisites for arrests or summons under the GST law is a welcome move

The Hindu

It's fake: Modi govt shoots down opposition charge on caste criterion for Agnipath aspirants

NEW DELHI: In a fast rebuttal of the opposition's charge that recruitment under the Agnipath scheme required a caste certificate to be submitted by applicants, the Narendra Modi government said it was fake, with defence minister Rajnath Singh rejecting the charge in no time.

The Times of India

GST is not applicable on perks to employees, clarifies CBIC

NEW DELHI: A wide range of benefits such as free beverages, canteen facilities, free parking space, journal subscriptions or even group medical insurance provided by business entities to its employees in terms of a contractual agreement between the two, will not be subject to Goods and Services Tax (GST).

The Times of India

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The Times of India

Average time taken for customs clearance of imports comes down: CBIC

NEW DELHI: The average time taken for customs clearance of imports has come down by 16 per cent at air cargo complexes and by 12 per cent across seaports, a CBIC study showed on Monday.

The Times of India

Rs 17,000 crore worth GST and excise tax appeals from Hyderabad pending in courts

HYDERABAD: More than Rs 17,000 crore worth GST and customs excise tax appeals from Hyderabad customs excise and GST zone are pending in various courts and tribunals. The appeals are pending before the Supreme Court, Telangana high court and the Customs Excise and Service Tax Appellate Tribunal (CESTAT).

The Hindu

Nirmala Sitharaman raps CBDT and CBIC for not addressing tax assessees grievances

The Finance Minister directed the boards to tell the tax assessees where the glitches were and if there was a policy tweak required

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