In the Indian Budget 2020-21 it was announced that a review of existing Customs exemption notifications would be undertaken. The Central Board of Indirect Taxes (CBIC) has now invited suggestions from stakeholders on aligning the rules with the needs of changing times and ease of doing business.
Duty rate changes are considered usually as part of the Budget proposals and hence this review would not cover this.
Source Moneycontrol
Latest Posts in "India"
- India to Impose New Health and Security Tax on Tobacco Machinery, Amend GST Compensation Levy
- Punjab Trade, Tax Bodies Threaten Statewide Stir Over Delayed VAT, GST Refunds
- Briefing Document & Podcast: E-Invoicing and E-Reporting in India
- Meghalaya Extends VAT Exemption on Fruit Wine to 10 Years, Boosting Local Wine Industry
- Allahabad HC: Arbitrary GST Registration Cancellations Without Reasons Amount to ‘Economic Death’ for Businesses
