MP High Court: Railways Liable for Deaths on Tracks if it Fails to Take Preventive Measures  ||  Ker HC: NDPS Case Stands Even if Contraband Listed in Ml, if Chemical Report Shows Equivalent Weight  ||  Kerala HC: Father’s Retirement Benefits Can Be Attached for Child Maintenance Despite S.60(1)(g) CPC  ||  Supreme Court: A Decree Declared 'Nullity' Can be Challenged at Any Stage, Including Execution  ||  SC Explains How 'Intention' & 'Knowledge' Decide if S.304 IPC Offence is Culpable Homicide Not Murder  ||  NCLAT New Delhi: Public Auction Not Required for Sale of Encumbered Assets if Charge Holders Consent  ||  SC: Rejection of Plaint is Appealable, but no Appeal Lies Against Order Refusing to Reject Plaint  ||  SC Mulls Guidelines After Accused in Lawyers’ Robes Commits Murder in Court Premises  ||  Supreme Court: Subsequent Purchaser Without Due Verification Bound by Previous Sale Agreement  ||  SC: Service Tax Not Applicable on Transfer of Title in Immovable Property    

Central Board of Indirect Taxes and Customs starts capturing district-wise data or origin of export goods- (Press Information Bureau) (17 Feb 2020)

MANU/PIBU/0420/2020

Goods and Services Tax

Keeping with the Hon'ble PM's objective of turning districts into export hubs, Central Board of Indirect Taxes and Customs has now started capturing district-wise data or origin of export goods. The idea was also recently echoed by the Hon'ble Finance Minister in her Budget speech. This additional information from the export declarations will provide a key statistical input to policy makers on the importance of each district for exports and will help in aligning the policies to enhance local capacity.

Additionally, the export declarations would now also capture declarations by exporters intending to avail India's Free and Preferential Trade Agreements (FTAs/PTAs) being exported to partner countries. This would provide critical data on the gains being made by Indian exporters under FTAs/PTAs and help the Government align India's foreign trade policy in nation's best interests.

Further, CBIC has now made it mandatory that every GST registered importer and exporter must declare their GSTIN on the import and export declarations. Not only will this help the taxpayers to claim the ITC Credit and IGST Refunds, it would also help in combatting frauds.

The above initiatives of the CBIC will help policy makers take data-driven decisions.

Tags : DISTRICT-WISE   DATA   EXPORT GOODS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved