SIGN IN SUBSCRIBE

News Update

India received foreign remittance of USD 111 bn in 2022, says UNPitroda resigns as Chairman of Indian Overseas Congress over racist remarkGovt hosts workshop on improving Ease of Doing Business in Mining sectorI-T - Anything made taxable by rule-making authority u/s 17(2)(viii) should be 'perquisite' in form of 'fringe benefits or amenity': SCCus - Drawback - Revenue contends that appeal of exporter ought to have been dismissed by Tribunal as not maintainable since correct remedy was filing a revision application with Central government - Appeal disposed of: HCCus - CHA - AA has clearly brought out the modus adopted by the appellant and how he was a party to the entire under valuation exercise - Factual finding affirmed by Tribunal - No question of law arises for consideration: HCGST - Proper officer has not applied his mind while passing the order; confirmed demand by opining that reply is not satisfactory - Proper Officer is directed to withdraw all punitive actions taken against petitioner pursuant to impugned order: HCGST - Proper Officer had to at least consider the reply on merits and then form an opinion - Non-application of mind - Order set aside and matter remitted for re-adjudication: HCGST - Cancellation of registration for non-filing of returns - Suspension/revocation of license would be counterproductive and works against the interest of revenue - Pragmatic view needs to be taken to permit petitioner to carry on his business: HC86 flights of AI Express cancelled as crew goes on mass sick leaveTax Refund Conundrum - Odyssey of Legal MisstepsI-T- AO not barred from issuing more than one SCN; Fresh SCN seeking information is not without jurisdiction, more so where HC itself directed re-doing of assessment: HCMurthy launches Capacity Building on Design and Entrepreneurship programCash, liquor & drugs worth Rs 110 Cr seized from Jharkhand ahead of pollsI-T- Appeal before CIT(A) (NFAC) is rightly dismissed where it has been delayed by over one year without just & reasonable cause: ITATPoll-induced stress: 2 Bihar officials die of heart attack at polling boothsSixth Edition of Commandants' Conclave held in PuneSome Gujarat villages keep away from polls over unfulfilled demands from governmentRoof-hugging inflation nudges Argentina to print first lot of 10,000 notes of pesoInvestigation finds presence of ‘boys club’ strands of culture at American bank regulatorUS cancels licence to some firms found exporting materials to Huawei
 
Task Force for Export Facilitation calls for EDI level changes and simplification of procedures

 

By TIOL News Service

NEW DELHI, NOV 29, 2014: IN reply to a question in the Lok Sabha yesterday, the Commerce Minister, Mr Nirmala Sitharaman, said that the 'Second Task Force on Transaction Costs in Exports' was constituted by the Government in April 2013. The scope of the Task Force involved identifying key issues and evolving a strategy towards reducing transaction costs in terms of specific operational problems for export/import processes.

The Task Force has submitted its report in July, 2014. It has made recommendations for simplification of procedures and processes relating to procedural and EDI level changes. In addition, specific recommendations relating to Ministry of Agriculture, Ministry of Civil Aviation, Ministry of Commerce & Industry, Ministry of Environment & Forests, Ministry of Finance, Ministry of Health and Family Welfare, Ministry of Railways, Ministry of Shipping and Ministry of Textiles have also been suggested by the Task Force. Besides, it has suggested framework for an efficient trade facilitation mechanism in India. Respective Departments/Ministries/Authorities have been requested to take appropriate action on these recommendations.

The key elements of the model developed by the Task Force are: (i) an integrated online environment, (ii) introduction of smart gateways and improvement of export infrastructure, (iii) reduction in level of physical checks and removing redundancies (iv) provisions for post clearance examination at factory, (v) re-defining and simplifying criteria for accredited entities and (vi) transparency measures related to classification and tariff information. Once implemented, this framework would have the capability of significantly improving our export competitiveness and brining India at the forefront of global trade.



POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST