Empowering MSMEs with News & Insights

Finance Ministry revamps indirect taxes formations

Updated: Oct 16, 2014 11:57:35am
image
New Delhi, Oct 16 (KNN) With a view to provide better services to tax payers, the Finance Ministry has restructured the indirect taxes formations.

The apex body for indirect taxes, Central Board of Excise and Customs (CBEC) has implemented the cadre restructuring of the Indirect Taxes formations, with effect from October 15, 2014.

“The restructuring of formations is aimed towards creating larger number of compact commissionerates, by reorganizing the existing commissionerates. This shall provide better tax payer services and deepen the tax base,” Ministry of Finance said in release.

For example, taking into account the growth in Service Tax over the last decade, four exclusive zones for Service tax have been created in metro cities, and the numbers of service tax commissionerates have been increased to 22 from 7.

Similarly with expansion of ports, the number of Customs Commissionerates has gone up from 34 to 60. In the context of self-assessment, the department is also laying emphasis on non-intrusive controls by creating 45 audit commissionerates.

Trade notices have been issued by the Chief Commissioners, for information of the trade and assesses, it said.

"There may be some teething troubles on account of reorganised jurisdictions. Trade may bring to notice of the department any issues they are facing so that timely resolution can take place," it added.

Indirect tax collections inched up by 5.8 per cent in the April-September period of this fiscal. Indirect tax collections, comprising excise, customs and service tax, stood at Rs 2,41,811 crore in the first six months of 2014-15 fiscal as against Rs 2,28,619 crore in the corresponding period a year ago. (KNN/SD)

COMMENTS

    Be first to give your comments.

LEAVE A REPLY

Required fields are marked *