9911796707
TMI BlogUpdate on measures taken to simplify tax administrationX X X X Extracts X X X X X X X X Extracts X X X X ..... Kindly find enclosed herewith copy of office memorandum under F. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... structured meetings held with the trade and industry such as RACS, PTFCs, Open Houses etc., at their level as well as at subordinate officer's levels. 2. It is mentioned that the Chairman (CBEC) 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Records can be maintained electronically and digitally signed invoices accepted. Facility of direct dispatch of goods by registered dealer from seller to customer's premises provided. Similar facility allowed in respect of job-workers. More 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods and services simplified. Input services credit flow from Input Services distributor to outsourced manufacturer allowed. Maintenance of common warehouse for distribution of inputs and credit allowed. Small capital goods below a minimum value to be treated as inputs. Credit of inputs such as tools, capital goods such as water pumping station, wagons allowed. Interest rate on late payment of duty reduced to 15% from the present rate of 18% per annum. III Service Tax 100 % e-payment of duty, permission to maintain electronic records, and acceptance of digital Online registration of new service tax assessee in 2 da ..... X X X X Extracts X X X X X X X X Extracts X X X X
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