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windfall tax: Centre slashes windfall tax to Rs 3,250 per tonne

The new rates will be effective June 15, 2024, Central Board of Indirect Taxes and Customs ( CBIC) said in a late night notification Friday.

CBIC clarifies on display assembly of mobile phones for levy of 10 pc import duty

GSTN rolls out form for tobacco manufacturers to report inputs, outputs to tax authorities

White goods, FMCG imports failing to get custom-fit tag

White goods, chemicals, pharmaceuticals, and FMCG companies face import delays or higher duties as customs authorities scrutinize third-party invoicing at various ports. This practice, used for tax optimization, allows invoicing through a country different from the goods origin and is permitted under FTAs. However, customs officials suspect abuse of FTA provisions, withholding consignments and denying lower duty benefits at ports like Nhava Sheva. Authorities demand differential duty payments and invoke rules addressing potential duty evasion through third-party invoicing, leading to potential supply disruptions.

CBIC initiates electronic disbursal of duty drawback amount directly to exporter's bank accounts through PFMS from today, 5th June 2024 – Odisha Diary, Latest Odisha News, Breaking News Odisha