www.ranjca.com


	[email protected] 040-6655 2655


	Prologue Team Ranj Key Offerings Get in Touch Knowledge Bank Calculators GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Instalment Bulletins Notification Circular Income Tax Company Law Service Tax Excise Matters Customs RBI SEBI FEMA Labour Laws Central Sales Tax Accounting Standards The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT Telangana VAT Tamil Nadu VAT IGST UTGST Compensation Cess Utilities Rates of TDS TDS Rates for N.R.I us 195 Rates of Income Tax Cost Inflation Index Rates of NSC Interest Gold and Silver Rates Rates of Depreciation Under Income Tax Act Rates of Depreciation Under Companies Act ROC Fee Structure (As per Companies Act, 2013) ROC Filing Fees (As per Companies Act, 2013) Application & Petition Fees (NCLT) Rates of Stamp Duty Limited Liability Partnership Fees National Industries of Classification IFSC Codes MICR Codes HSN Rate List Comparison of Deduction u/s 80TTA & 80TTB Links Quick Links Important Links GST/VAT Links Ease Of Doing Business Acts Direct Tax Income Tax Act Wealth Tax Act Income Declaration Scheme 2016 Indirect Tax Service Tax(Finance Act, 1994) The Central Excise Act, 1944 Customs Act, 1962 Central Sales Tax Act, 1956 Entry Tax Act Corporate Laws Companies Act, 2013 Companies Act, 1956 The Limited Liability Partnership ACT, 2008 The Securities and Exchange Board of India Act, 1992 VAT Laws Delhi Value Added Tax Act, 2004 Maharashtra Value Added Tax Act (2002) Rajasthan Value Added Tax Act, 2003 Bihar Value Added Tax Act, 2005 Karnataka Value Added Tax Act, 2003 Andhra Pradesh Value Added Tax Act, 2005 The Uttar Pradesh Value Added Tax Act 2008 West Bengal Value Added Tax Act, 2003 Punjab Value Added Tax Act Haryana Value Added Tax Act Telangana VAT Act 2005 Gujarat Value Added Tax Act, 2003 Tamilnadu VAT ACT, 2006 Other Statutes The Indian Partnership Act, 1932 Societies Registration Act, 1860 Reserve Bank of India Act, 1934 Competition Act, 2002 Monopolies and Restrictive Trade Practices Act, 1969 Foreign Exchange Management Act, 1999 The Employees' State Insurance Act, 1948 The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 Profession Tax Act Right To Information Act, 2005 Equalisation Levy Act, 2016 The Insolvency And Bankruptcy Code, 2016 Maharashtra Real Estate Regulatory Authority and Rules THE REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016 GST Laws IGST Act , 2017 Central Goods and Services Tax Act, 2017 Union Territory Goods and Services Tax Act, 2017 GST (Compensation to States) Act, 2017 Rules Direct Tax Rules Income Tax Rules Wealth Tax Rules 1957 Income Declaration Scheme Rules 2016 Indirect Tax Rules Customs Valuation Rules Service Tax Rules Central Sales Tax (Delhi) Rules, 2005 Central Sales Tax (Maharashtra) Rules Entry Tax Rules Cenvat Credit Rules, 2017 GST Valuation Rules , 2016 Corporate Laws Rules Companies Rules, 2014 The Companies Unpaid Dividend Rules, 1978 Limited Liability Partnership Rules, 2009 LLP Winding up Rules, 2012 VAT Laws Rules Delhi Value Added Tax Rules, 2005 Maharashtra Value Added Tax Rules, 2005 Haryana Value Added Tax Rules, 2003 Andhra Pradesh Value Added Tax Rules, 2005 The West Bengal Value Added Tax Rules, 2005 The Uttar Pradesh Value Added Tax Rules, 2008 Punjab Value Added Tax Rules Rajasthan Value Added Tax Rules, 2006 Bihar Value Added Tax Rules, 2005 Karnataka Value Added Tax Rules, 2005 Telangna VAT Rules 2005 Gujarat Value Added Tax Rules, 2006 Tamilnadu VAT Rules, 2007 Other Statutes Baggage Rules, 2016 Profession Tax Rules NBFC Acceptance of Public Deposits (Reserve Bank) Directions, 1998 NBFC and Miscellaneous Non-Banking Companies (Advertisement) Rules, 1977 NBFC Auditor’s Report (Reserve Bank) Directions, 2008 Delhi Labour Welfare Fund Rules, 1997 Cost records and audit Rules, 2014 Equalisation Levy Rules, 2016 NCLT And NCLAT Rules The Insolvency and Bankruptcy of India Rules GST Rules Central Goods and Services Tax Rule, 2017 Forms Income Tax Forms Wealth Tax Forms ROC Forms (As per Companies Act, 1956) Companies Unpaid Dividend Forms Limited Liability Partnership (LLP) LLP Winding up Service Tax Forms NBFCs Forms FEMA Forms ROC Forms (As per Companies Act, 2013) Income Declaration Forms VAT Forms DVAT Forms MVAT Forms Bihar VAT Forms Karnataka VAT Forms UPVAT Forms Haryana VAT Forms WB Vat Forms Punjab VAT Forms Tamil Nadu VAT Forms CGST Forms GST Forms Accounts and Records Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Value of Supply News Query Careers Admin Login Time Sheet

CBEC directs staff for revenue maximisation

Stream of directions to maximise revenue in next six weeks. The Central Board of Excise and Customs (CBEC) has directed its field formations to expedite “non-duty-related measures” for augmenting revenue. To this effect, CBEC members held meetings last week. Officials said the priority was revenue maximisation to take care of the fiscal deficit. While duty cuts have dampened indirect tax collection, the emphasis is now on non-duty measures like arrears and duty from existing goods. The customs department has written to port authorities all over India to evacuate cargo and release the duty payment as soon as possible before March 31.

The ports have been further directed that if the goods remain unclaimed even after the expiry of deadline for storage in the port, they could auction it and release the payments due to the customs department. The directions have been issued both for ordinary goods for which duty is paid once it is released from the port and also for warehouse goods. ‘Warehouse goods’ are supported by bank guarantees and duty is paid in the form of a guarantee once the goods leave the port. In both categories, port authorities have been directed to auction goods as much as they can and as soon as possible to garner revenues. Similarly, for arrear demands or demand pending in litigation, the CBEC has directed its field formations across the country to open all cases, irrespective of year and amount involved, where it had raised a demand but this has been stayed by courts, otherwise known as call-book cases. The department proposes to scrutinise all fresh proposals for availing duty benefits, both in export or import, and refund claims before releasing it. Certificates given by importers and those who had availed the duty cut benefits announced as part of the stimulus measures last year will be also put under scrutiny. "The scrutiny is meant to check the end-use of the funds availed under the stimulus measures," said an official.

The board has also proposed an amendment to the customs law for tightening the provisions of the Duty Exemption Entitlement Scheme (DEEC). Under DEEC, an export gets duty benefit while importing goods related to the goods it exports. If the exporter does not import goods, it can sell these duty benefit certificates to another imports. In several cases, while there is no genuine export, the exporter has got the duty benefits through a certificate and sold these duty benefit certificates to other importers. In such cases, the department has asked for an amendment in the DEEC scheme whereby the duty can be recovered by the original exporter in case of fraudulent exports in case the certificate has been sold to another importer. Under the current law, the onus of recovery of the duty is on the importer who has purchased these certificates and availed the benefits. However, it amounts to loss on both sides for the importer who purchases these certificates because he pays for buying the certificates and also pays the duty in case the benefit is denied.

www.business-standard.com