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Saturday , 18 August 2018
Breaking News

CBEC to be revamped to curb tax evasion

The Central Board of Excise and Customs will be rechristened as the Central Board of Indirect Taxes and Customs(CBIC) in the wake of rolling out of GST  and will supervise GST and Custom activities.

The change will be effective from July 1 and will be  headed by a chairman and will also have six members for GST, IT, legal and compliance verification, investigation, tax policy, customs and administration and vigilance.

The DGCEI will henceforth be known as DGGSTI which stands for  Directorate General of GST Intelligence and will have more powers. This will have a Principal Director General in Delhi and will be assisted by 4 sub-national Director Generals. Along with this two new directorates were being created namely The Directorate General of Analytics and Risk Management (DGARM) and The Directorate of International Customs with the latter to deal in WTO related issues including the tariff, Kyoto Convention, agreements between the countries.

In a letter that was being circulated, it said “It will also assist the board in functions related to the National Trade Facilitation Committee for implementation of the trade facilitation agreement (TEA) and Customs procedures for international Trade. All matters of cross- border trade through Land Customs Stations shall also be handled by this directorate.”

The government is strengthening the body responsible for detecting tax evasion. 

 

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