We have launched our mobile app, get it now. Or call : 9354229384, 9354252518, 9999830584.

Current Affairs

CBIC sets up 3 working groups to facilitate exports, curb tax evasion

Date: 25 February 2019 Tags: Economic Organizations, External Sector

Central Board of Indirect Taxes and Customs (CBIC) has constituted three Working Groups to study and recommend measures to facilitate trade, promote exports and improve compliance. They will submit report within two months and their recommendations of the groups would further enhance the ease of doing business and export competitiveness.

Mandate of working groups

  • Focus on export promotion and facilitation with emphasis on boosting exports through e-commerce.
  • Suggest measures to address trade facilitation barriers faced in India's export market and improving quality of logistics services for exporters.
  • Suggest measures on enhancing compliance, plugging loopholes to improve customs revenue collections and curb Integrated GST (IGST) refund frauds.
  • Work towards improving legislative structure of customs tariff and update it to suit the emerging and future needs of the economy and industry.
  • Give special focus to create comprehensive export tariff structure to enhance India's export competitiveness.

Central Board of Indirect Taxes and Customs (CBIC)

  • CBIC (earlier Central Board of Excise & Customs) is the nodal national agency responsible for administering Customs, GST, Central Excise, Service Tax & Narcotics in India.
  • It is part of Department of Revenue, Union Ministry of Finance. It is headquartered in New Delhi.
  • It is administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Service Tax Commissionerates and Central Revenues Control Laboratory.
  • Functions: It deals with tasks of formulation of policy concerning levy and collection of customs and central excise duties, Goods & Services Tax and IGST.
  • It also deals with prevention of smuggling and administration of matters relating to customs, central excise, service tax and narcotics.