Search result for 'sanjay kumar agarwal'

Gold smuggling in India has significantly reduced following a July 2024 import duty cut, according to the CBIC Chief. The agency has also stepped up anti-smuggling efforts, including monitoring air...

The shift of basic customs duty (BCD) to AIDC will have a marginal impact on state transfers, with a total of Rs 4,000 crore shifted across 30 states, according to CBIC Chairman Sanjay Kumar Agarwal.

India has lowered its average customs duty to 10.66%, moving towards ASEAN levels. The move aims to simplify tariffs, boost competitiveness, and address US concerns about high tariffs.

The CBIC has launched a platform for individuals and businesses to provide suggestions for improving tax procedures and policies, promoting a more streamlined and business-friendly tax regime.

India is actively negotiating mutual recognition agreements (MRAs) with 30 countries to ease overseas trade, reduce compliance costs, and boost trade opportunities. The move aims to enhance the...

The CBIC has instructed customs officials to complete investigations into commercial fraud cases within a year, emphasizing a balanced approach to minimize disruptions in business.

The CBIC has launched a training program for 35,000 officers focused on behavioral skills and sensitivity while interacting with taxpayers. This initiative aims to enhance service delivery and...

Bihar aims to boost maize production, seeking investment in hybrid seeds and storage facilities, driven by ethanol demand. The state plans to cultivate maize on a record 10 lakh hectares this year.

India's Revenue Secretary reveals plans to reduce customs duty rates from over 10 to 4-5, aiming to simplify trade, remove duty inversion, and reduce classification disputes.

CBIC Chairman reveals GST Council decisions on amnesty, profiteering, and rate rationalization will be incorporated into the Finance Bill 2024. Learn about the key amendments and their implications.

India's Goods and Services Tax (GST) has completed 7 years, bringing lower taxes on household appliances and mobile phones, according to the finance ministry. The GST regime has also seen a...

India has signed 7 mutual recognition agreements (MRAs) with customs authorities of other countries, including Russia. The CBIC is actively pursuing negotiations for similar pacts with other nations.

India's net direct tax collections jumped 18% to Rs 19.58 lakh crore in FY24, exceeding revised estimates. Corporate and income taxes contributed significantly to the growth.

India's indirect tax collection for FY24 surpassed revised estimates by a significant margin, driven by record GST revenue. CBIC chairman highlights strong economic activity.

Finance Minister Nirmala Sitharaman calls on GST officers to utilize technology to combat evasion and improve taxpayer services, emphasizing collaboration and data analytics.

The GST Council may make biometric-based Aadhaar authentication mandatory for suspicious GST registration applications, following successful pilots in Gujarat and Andhra Pradesh.

Finance Minister Nirmala Sitharaman participated in the traditional 'halwa' ceremony, marking the final stage of preparation for the Interim Budget 2024 to be presented on February 1 in Lok Sabha.

GST revenue in October grew 13.4% to Rs 1.72 lakh crore, driven by economic activity and higher imports. CBIC Chairman attributes the growth to economic activity.

CBIC to send advisories to businesses not complying with e-invoice regulations. Learn about the e-invoice mandate, compliance requirements, and the latest updates.