News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Customs and Excise »
 Notification No.59/2019 Central Board Of Indirect Taxes And Customs
  Notification No. 57/2019- Central Board of Indirect Taxes and Customs
 Notification No. 58/ 2019-Central Board of Indirect Taxes & Customs
 Notification No.55/2019 Central Board Of Indirect Taxes And Customs
 Notification No. 54/2019 Central Board Of Indirect Taxes And Customs
 Notification No. 51/2019- Central Board of Indirect Taxes and Customs
 Notification No. 50/2019- Customs Ministry Of Finance (Department Of Revenue)
 Notification No.45/2019 - Customs Central Board Of Indirect Taxes And Customs
 Notification No. 41/2019 Central Board of Indirect Taxes and Customs
 Exchange Rates Notification No. 40/2019-Central Board Of Indirect Taxes And Customs
 Notification No.39/2019 -Central Board Of Indirect Taxes And Customs

Central Board of Excise and Customs to soon notify new procedural framework
June, 19th 2017

It’s a green light from Indian customs for the pre-run of the GST on June 23. Central Board of Excise and Customs will soon notify the new procedural framework for the country’s over $650-billion trade sector, which will be among the first to face tax regime change from July 1.

“We have already restructured the field force in line with the GST... Necessary systems are being put in place and we will start the dry run from June 23,” a senior government official, privy to the discussions on the matter, told ET.

The official said a detailed directive would be issued soon for the field, explaining the rate schedule of the Integrated GST, which will be levied on imports.

IGST will be the sum of central GST and State GST levied on a local product and will be in addition to the basic customs duty. IGST replaces countervailing duty, the special additional duty levied in lieu of central excise.

Field officials have already been sounded out to ensure that traders do not face any glitches. I-GST on imports will be completely administered by the Centre’s customs officials.

Separately, changes to the forms in line with those announced by the director general of foreign trade (DGFT) as also others would be notified this week, the official said.

DGFT has already made permanent account number as the new Import Export Code or IEC, which will also facilitate migration to GSTIN (GS Tax Identification Number) that will be needed for payment of IGST or claiming refund or rebate.

GSTIN is a 15-digit alpha numeric code with PAN prefixed by State Code and suffixed by three-digit details of business verticals of the PAN holder.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions