New Delhi, June 18 As Finance Minister Nirmala Sitharaman prepares to present her first Union Budget on July 5, trade associations involved in import and export want the government to take several steps to boost India's cross border trade.
The GST council has further simplified and enhanced the way taxpayers and corporates will be filing their GST returns. A trial is set to take place for new GST return-filing from July 2019 onward, and will be implemented in a phased manner from October 2019.
The share of Khadi fabric in the total textile mill production has doubled to 8.49 percent in five years to 2018-19, the Khadi and Village Industries Commission said on June 18.
In a move to cleanse the bureaucracy, the government on Tuesday compulsorily retired 15 senior officials of Central Board of Indirect Taxes and Customs (CBIC) of the rank of principal, additional and Deputy Commissioners.
The first meeting of GST to be chaired by new finance Minister Nirmala Sitharaman on 21 June is expected to take decisions to curb tax evasion.
NEW DELHI: With the government detecting fraudulent refund claims by exporters, the CBIC has asked customs and GST officers to closely verify the IGST refund claims before sanctioning them.