Update on measures taken to simplify tax administration

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....No. DP/PUB/08/16/684-726 dated 27-04-2016 .0f the Director General, DGTS, New Delhi, on the above subject enclosing a brief note on reform update by the chairman(CBEC). 2. Also refer to this office letter of even no. 12162-12173 dated 24-02-2016, where a compilation of the measures taken in the field of simplification of tax Administration in Indirect Taxes were forwarded for necessary action and propagating the same through the meetings of various fora including PTFCs, Open Houses and PGC. In continuation of the above, reform update by the Chairman(CBEC) is forwarded herewith for necessary action at your end. 3. You are requested to ensure that the above reform update by the chairman (CBEC) is communicated using various i....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....EC) has recently forwarded a brief note on reform update enclosed as (Annexure) on 11.03.2016 to the nine major chambers of commerce and industry viz. CII. FICCI, Assocham, PHD Chambers, Society of Indian Mobile Manufactures, etc. 3. A copy of the above reform update is enclosed for necessary action at your end. (Vinay Chhabra) Director General, DGTS • The guidelines relating to valuation of second hand machinery revised. In order to achieve nationwide standardization, formats for certification by Chartered Engineers (Indian & Overseas) devised. • Temporary Imports for exhibitions: Exemption notification issued for enabling temporary importation of goods for display/exhibition/demonstration. The requiremen....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ore than 50 technical issues on which there was sustained litigation resolved in the Chief Commissioner's Tariff Conference. For details refer CBEC website [Instructions dated 7th December, 2015 containing Annexure B of the Minutes of Tariff Conference held on 28th and 29th October, 2015]. • Time limit for taking CENVAT Credit of duty/tax paid on inputs and input services increased from six months to one year. • E-payment of refunds and rebates through RTEGS[NEFT introduced. • The provision restricting CENVAT credit to 85% under proviso to Rule of 3(i)(vii) of Cenvat Credit Rule, 2004 deleted. Consequently ship-breaking units entailed to avail 100% credit of the CVD paid with effect from 01.03.2015....