This Site Content Administered by
CABINET

Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime

New Delhi: March 22,2017

 Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the following proposals:


i. Amendment to the Customs Act, 1962;
ii. Amendments to the Customs Tariff Act, 1975;
iii. Amendment to the Central Excise Act, 1944;
iv. Repeal of the Central Excise Tariff Act, 1985; and
v. Amendment or repeal of the provisions relating to Acts under which cesses are levied.

The above proposals will result in the following benefits:

i. Insertion of Sections 108A and 108B in the Customs Act, 1962 seeks to provide for furnishing of information relating to import/export of goods by specified persons to enable analysis and detection of cases of unter/over-valuation in imports and exports, misuse of export promotion schemes including the Drawback Scheme and violations of the provisions of the Customs Act and various other laws under which Customs officials have been authorized to effectively implement these laws; and

ii. Amendments or repeal of various provisions of other Acts which will no longer be relevant consequent upon roll out of GST will result in cleansing of the irrelevant portions from the Statute Book and reduce multiplicity of taxes.

 

                                                       ****

 
PIB Release/DL/430
APS --SB

Click here to download high quality photo

    Click here to download high quality photo

more photos ....
MEDIA UNITS

PIB MAIN SITE (DELHI)

DD NEWS

AIR NEWS

D A V P

R N I

D F F

GOVERNMENT LINKS

PRESIDENT

PRIME MINISTER

CENTRAL GOVERNMENT

MAHA. GOVERNMENT

MAHARASHTRA MEDIA

MEDIA LIST

NEWSPAPERS

TELEVISION MEDIA

MEDIA REGULATION

CABLE REGULATION

CONTENT CODE

ADVERTISING CODE

PROGRAMMING CODE

JOURNALIST CORNER

JOURNALISM BASICS

INDIAN SCHOOLS

INT.SCHOOLS

PIB LIBRARY

OTHER LINKS

INDIAN AIRLINES

INDIAN RAILWAYS

BUSES


This Site Content Administered by : Manish Desai, Director (M&C),
Press Information Bureau, Mumbai
Site is designed and hosted by National Informatics Centre (NIC)
Information is provided and updated by :Press Information Bureau