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"
- High Court Clarifies GST Treatment of Corporate Guarantees Without Consideration
- West Bengal AAR Rejects Hotel ITC Advance Ruling Over Pending GST Proceedings
- IMS vs Purchase Register: GST Reconciliation Guide
- Rajasthan AAAR: Compostable Bags Taxable at 5% Only if Biodegradable
- Tamil Nadu AAR: GST on Foreign Director’s Commission, Export Agents Exempt, C&F Taxable
