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Year End Review Highlights of the Achievements of the Department of Revenue Ministry of Finance

Dated:- 17-12-2015 - During the current fiscal, Department of Revenue, Ministry of Finance has undertaken various initiatives for enhancing the Revenue Collection , easing and formulating the Taxation policy and there by contributing to the Nation building. The major highlights of the achievements of the Department are as follows INDIRECT TAX COLLECTIONS :In October 2015, indirect tax revenue (provisional) collections increased by 36.8% compared with collections made in October 2014. Cumulativel .....

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ctober 2014.Collections on account of Central Excise increased from ₹ 87,588 crore in April-October 2014 to ₹ 1, 47,685 crore in April-October 2015 and thereby registering an increase of 68.6 %. In case of Service Tax, collections increased from ₹ 89,379 crore in April-October 2014 to ₹ 1, 12,727 crore in April-October 2015 and thereby registering an increase of 26.1 %. Collections on account of Customs increased from ₹ 1, 04,831 crore in April-October 2014 to ͅ .....

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l 18.8 269909 281798 382860 4.4 35.9 The underlying theme of the BUDGET 2015-16 indirect tax proposals was job creation through revival of growth and investment and promotion of domestic manufacturing and Make in India ; Minimum government and maximum governance to improve the ease of doing business; Improving the quality of life and public health through Swachh Bharat initiatives; and Stand alone proposals to maximise benefits to the economy. I. In order to achieve the above objective of job cr .....

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her than excise duty) was reduced / exempted on certain imported raw materials / inputs so as to address the problem of input tax credit accumulation. For example, all goods except populated PCBs, falling under any Chapter of the Customs Tariff, for use in manufacture of ITA bound goods was fully exempted from 4% SAD. Basic customs duty was increased on metallurgical coke from 2.5% to 5% and on commercial vehicles from10% to 20%. Excise duty was exempted on inputs required for the manufacture of .....

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ted on specified bunker fuels for use in Indian Flag vessels for carrying export-import (EXIM) containers, empty containers and domestic containerized cargo. Excise duty was exempted on RBD Palm Stearin, Methanol and Sodium Methoxide for use in the manufacture of specified biodiesel for a period upto 31.03.2016. II. In order to protect the interests of domestic farmers, the following measures were taken: Basic customs duty was increased on sugar from 15% to 25% which was later increased to 40%. .....

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ble origin) from 7.5% to 12.5% and refined edible oils (of vegetable origin) from 15% to 20%. Basic customs duty was increased on ghee, butter and butter oil from 30% to 40% for a period upto and inclusive of the 31st day of March, 2016. Basic customs duty of 10% was imposed on wheat which was later increased to 25% for a period up to 31.03.2016. The Customs duty concession for import of white butter, butter oil and anhydrous milk fat(AMF) upto TRQ of 15,000 MT at Nil import duty was withdrawn. .....

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of 24x7 Customs clearance for specified imports, namely, goods covered by facilitated Bills of Entry and all exports viz. goods covered by all Shipping Bills was extended at 17 air cargo complexes. This will help in faster clearance of such imported and export goods, reduce dwell time and lower the transaction cost. Single Window Project -Online message exchange: Single Window provides a common platform to EXIM trade to meet requirements of all regulatory agencies (such as Animal Quarantine, Pla .....

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and Storage (PQIS) at JNPT (NhavaSheva), ICD, Tughlakabad and ICD, Patparganj, providing for real time seamless online exchange of information, including no objections, with/from these agencies. Other regulatory agencies such as the Animal Quarantine, the Textile Committee, the Drug controller of India and the Wild life authorities are also being brought within the ambit of Single Window Customs Clearance. Special Notified Zone for trading of rough diamonds: Consequent to Hon ble Prime Minister .....

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on an optional basis the facility of Digital Signature was introduced for importers, exporters, airlines, shipping lines etc. However, for importers registered under the Accredited Client Programme (ACP), digital signatures are mandatory with effect from 01.05.2015. Introduction of digital signature will maintain data integrity and reduce cost of compliance. Reduction in mandatory documents for imports and exports: To facilitate trade and to simplify procedures, number of mandatory documents ha .....

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anship of Chief Commissioner of Customs/Commissioner of Customs. The CCFC is mandated to focus primarily on ensuring and monitoring expeditious clearance of EXIM goods in accordance with the timeline specified by the parent ministry/Department concerned; identifying and resolving bottlenecks, if any, in the clearance procedure of imported and export goods; and resolving grievances of members of the trade and industry in regard to clearance process of imported and export goods. Similarly, at Cent .....

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noticee was exonerated in the quasi-judicial proceedings and such order has attained finality. CENTRAL EXCISE Reduction in number of levies: Education Cess and Secondary & Higher Education Cess on excisable goods have been subsumed in Basic Excise duty. Registration in two days: Registration in Central Excise is to be granted within two working days. Verification of documents and premises to be carried out after the grant of the registration. Digital signature and preserving records in elect .....

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NVAT: Time limit for taking CENVAT Credit of duty/tax paid on inputs and input services was increased from six months to one year. Direct despatch of goods: Facility of direct dispatch of goods by registered dealer from seller to customer s premises was provided. Similar facility has also been allowed in respect of job-workers. Registered importer can also send goods directly to customer from the port of importation. Rationalization of penal provisions: Penalty provisions in Central Excise have .....

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rson concerned was exonerated in the adjudication proceeding on merits. SERVICE TAX Reduction in number of levies:Education Cess and Secondary & Higher Education Cess on taxable services have been subsumed in Service Tax with effect from 01.06.2015. Registration in two days: Registration in Service Tax to be granted within two working days. Time limit for taking CENVAT: Time limit for taking CENVAT Credit of duty/tax paid on inputs and input services was extended from six months to one year. .....

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en allowed to issue digitally signed invoices and maintain other records electronically. Withdrawal of Prosecution in certain circumstances: Instructions have been issued providing for withdrawal of prosecution where a noticee was exonerated in the quasi-judicial proceedings and such order has attained finality. If theexport proceeds are not received within the prescribed time period, the exporter has to reverse the Cenvat Credit. Re-credit of such reversed Cenvat credit was allowed, if such exp .....

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ed from ₹ 100 per tonne to ₹ 200 per tonne. Concessional customs and excise duty rates on specified parts of Electrically Operated Vehicles and Hybrid Vehicles, available upto 31.03.2015, was extended upto 31.03.2016. Excise duty on sacks and bags of polymers of ethylene other than for industrial use was increased from 12% to 15%. An enabling provision was made to empower the Central Government to impose a Swachh Bharat Cess on all or certain taxable services at a rate of 2% on the v .....

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y exemption on condensed milk put up in unit containers and peanut butter have been withdrawn. The service tax rate was increased from 12% plus Education Cesses to 14%, w.e.f. 1st June 2015. Consequent upon review of the Negative List (i.e. services which are not taxable), service tax was levied on the following services: Service provided by way of access to amusement facility such as rides, bowling alleys, amusement arcades, water parks, theme parks, etc. Service by way of admission to entertai .....

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d by the Government to business entities, unless specifically exempt, shall become taxable. The General Exemptions in service tax were reviewed and the following exemptions have been withdrawn: Specified services of construction, repair of civil structures, etc. when provided to Government except such services provided to,- a) a historical monument, archaeological site b) Canal, dam or other irrigation work; c) pipeline, conduit or plant for (i) water supply (ii) water treatment, or (iii) sewera .....

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or AMC; and selling or marketing agent of lottery ticket to a distributor of lottery. VI In order to allocate additional resources to infrastructure, the effective rates of Additional Duty of Customs / Excise levied on Petrol and High Speed Diesel Oil [commonly known as Road Cess] have increased from ₹ 2 per litre to ₹ 6 per litre. VII.As measures to promote public health: excise duty on cigarettes was increased by 25% for cigarettes of length not exceeding 65 mm and by 15% for ciga .....

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order to give impetus to banking in rural areas under the Pradhan Mantri Jan Dhan Yojana [PMJDY] Scheme,specified services provided by Business Facilitators/Business Correspondents with respect to a Basic Saving Bank Deposit (BSBD)Account covered by Pradhan Mantri Jan Dhan Yojana in a banking company s rural area branches have been exempted from service tax. IX. In keeping with the declaration of 21 June as the International Day of Yoga by UN General Assembly, charitable activities relating to .....

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nforcement Meeting, which was attended by Customs Enforcement Heads of Bangladesh, Bhutan, Myanmar, Nepal and Sri Lanka. The DRI has been awarded for the second year running the United Nations Environment Programme (UNEP)' Asia Environmental Enforcement Award (AEEA), in recognition of its excellent work in combating environmental crime.This is a prestigious award and reflects the outstanding work done by DRI in preventing the illegal trade in Ozone Depleting Substance (ODS) and smuggling of .....

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total of 379.733 MT of Red Sanders was seized in India. DRI, on behalf of Indian Customs, participated/coordinated several cross border operations covering strategic goods (Cosmo), illegal trafficking in methamphetamine by air passengers (Westerlies 3), counterfeit medicines (Operation PANGEA-VII), which were spearheaded by WCO or INTERPOL. Project Global Shield (PGS), an International effort to counter the illicit diversion and trafficking of precursor chemical, is a regular programme of WCO. T .....

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ce. With a view to greater thrust to tax-payer services, it was agreed to create an exclusive Directorate responsible for providing all tax-payer services. To achieve this goal structurally and operationally, CBEC has set up a new Directorate of Tax Payer Services with headquarters at New Delhi, and regional Centres at Six cities.Zonal offices of Customs Excise and Service Tax have a facility of e-helpline, where tax payers can contact the tax officials regarding their queries / information / st .....

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.2) Act, 2014 and similarly, Finance Act, 2015 to promote growth, investment, manufacturing and job creation. These are expected to improve ease of doing business, bring about clarity in tax laws, and resolve disputes.Measures taken are given below:- The levy of Wealth-tax has been abolished with effect from 2016-17 (Assessment Year) for reducing the compliance burden on the tax payers. Clarity in taxation of indirect transfer has been brought through Finance Act, 2015. Reasonable restrictions o .....

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as capital gains. This would remove uncertainty in taxation on account of characterization of their income and would encourage flow of funds from FIIs. To facilitate relocation of fund managers of offshore funds in India, the permanent establishment (PE) norms have been modified. Roll Back provision has been introduced in the Advance Pricing Agreement (APA) regime so that an APA entered into for future transactions is also applicable to international transactions undertaken in previous four yea .....

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AIFs) has been streamlined by providing pass through status to all the sub-categories of category-I and also to category-II AIFs governed by the regulations of Securities and Exchange Board of India (SEBI). Eligible date for borrowing in foreign currency has been extended from 30.06.2015 to 30.06.2017 for concessional tax rate of 5 percent on interest payments. Tax incentives have been extended to all types of bonds instead of only infrastructure bonds. Period of applicability of reduced rate of .....

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of their income tax liability above a define threshold. Yoga has been included as a specific category of activity in definition of charitable purpose and also to provide relief for activities in the nature of business undertaken by genuine charitable organizations subject to the condition that income from such is less than 20 % of total receipts. Tax neutrality on transfer of units of a scheme of a Mutual Fund under the process of consolidation of schemes of Mutual Funds as per SEBI Regulations .....

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ars to 80 years. Investment limit under section 80C of the Income-tax act has been raised from 1 lakh to 1.5 lakh. This would encourage domestic investment in long term savings. Limit of deduction under section 80CCD of the Income-tax act on account of contribution by the employee to National Pension Scheme (NPS) has been increased from ₹ 1 lakh to 1.50 lakh. A deduction of ₹ 50,000/- over and above the limit of ₹ 1.50 lakh has been allowed to any individual who makes a contrib .....

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tax but is not required to obtain TAN for depositing the tax so deducted. Relevant provision has been amended for providing enabling power to notify the same facility for an individual purchasing an immovable property from a non-resident. Clarification has been issued with respect to the long pending demand relating to the period of stay for the purpose of deciding the residential status of seafarers, who are Indian citizens, going on international voyage. A mechanism has been provided to pre-e .....

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mpliance opportunity - The Black Money Act also provided a one time compliance opportunity for a limited period [from 1st July, 2015 to 30th September, 2015] to persons who have any undisclosed foreign assets which have hitherto not been disclosed for the purposes of Income-tax. Such persons were allowed to file a declaration before the specified tax authority. The declarants are required pay tax at the rate of 30 percent and an equal amount by way of penalty by 31st December, 2015. Such persons .....

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ey in the form of Benami property, especially in real state. The Government is coordination with Swiss Government in getting information of cases investigated by Income Tax Department, confirming its genuineness of Bank accounts etc FATCA: India and United states signed Inter governmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) to promote transparency on Tax matters. It is an important milestone in India s fight against Black Money as it would enable the India .....

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n Partial Revision of the DTAA Between the two Countries with a View to Bring the Provisions Relating to Exchange of Information to International Standards Various preventive steps were also taken.It has been decided that quoting of PAN will be required for transactions of an amount exceeding ₹ 2 lakh regardless of the mode of payment. The Government has also enhanced the monetary limits of certain transactions which require quoting of PAN. The monetary limits have now been raised to ͅ .....

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s including in co-operative banks.The changes to the Rules will take effect from 1st January, 2016. AAYAKAR SEWA KENDRA: It is the single window system for implementation of Citizen s Charter of the Income Tax Department and a mechanism for achieving excellence in public service delivery. All communications as well as returns received in ASK require timely disposal which can be monitored and reviewed. Receipt and distribution and disposal of Dak is done electronically and is monitored at regular .....

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onsibility Centers in CBDT vide which a set of targets is resolved to be achieved as per a matrix of measurable success indicators. The RFD for the year 2015-16 was submitted in March, 2015. The annual review of RFD for F.Y. 2014-15 was completed in May, 2015. E- GOVERNANCE ACTIVITIES: With modern information technology as a key driver, the CBDT is implementing a comprehensive computerization programme in the Income Tax Department. The programme aims to establish a taxpayer friendly regime, incr .....

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ome Tax Returns: The e-filing portal of the Department is https://incometaxindiaefiling.gov.in. The number of registered users of the e filing portal as on 31st Oct 2015 is about 4.86 crore. During the FY 2014-15, the major new facilities added were login to e-Filing through net banking , option to raise grievances and status update related to CPC and submit Response for the Outstanding Tax Demand . In Financial Year, 2014-15, 341.73 Lakh returns were received through e-filing, representing a gr .....

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31st March 2015 against the projected 2.7 crore e-filed returns that CPC was to process in the initial 5 years. CPC has processed 3.07 crore returns of income during Financial Year 2014-15 with a growth rate of 26%, over 2.44 crores processed during Financial Year 2013-14. CPC has achieved a peak processing capacity of 3.78 lakh returns per day. As on 01.11.2015 Central Processing Centre had processed 2.40 crore returns. Out of these (2.40 Cr.) 1.16 crores relate to AY 2015-16 which include 72 .....

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issue of cleaning and updating of arrear demands, the outstanding demand position in CPC FAS (Financial Accounting System) was made available to field AO s through the CPC AO Portal and to taxpayers through My Account on e-filing website. Outstanding demands aggregating to ₹ 6,98,776/- crore have been hosted as on 31st March 2015 on the CPC Portal / E-Filing Website to enable the field AOs and taxpayers to verify and confirm. CPC has facilitated Tax payers to revert on the demand position .....

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ities Depository Ltd. (NSDL) is available under the Scheme. Call centre facility with toll free number 1800-42-59-760 is also available for tracking status of refunds issued through the scheme. There has been a steady increase in number and percentage of refunds issued through the Refund Banker scheme. During Financial Year, 2014-2015, the percentage of refunds issued through the scheme was 99.84% of the total number of refunds issued all over India. E-Payment of taxes: The E-Payment project has .....

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ization of information in all areas of tax administration.The Project will integrate enterprise data warehouse, data mining, web mining, predictive modelling, data exchange, master data management, centralized processing, compliance risk management and case analysis capabilities. A Compliance Management Centralized Processing Centre (CMCPC) will also be set up under the Project to handle resource intensive repetitive tasks and ensure optimum resource mobilization within ITD for high skill work. .....

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ched processes and automating the Human Resource related aspects of the Department. The project is distinct in so far as a single vendor is responsible for hardware application as well as its performance and the performance is calibrated against strict Service Level Agreements. The Project is being rolled out in the current Financial Year. In 2014-15 the following milestones had been achieved:- Migration of Data in the data Centre to the new state- of- the- art Hardware form the legacy System Ro .....

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do away with the paper trail for tax credit and paper validation system. OLTAS project has been one of the landmark e-governance initiatives undertaken by the department. Under the project, all payments made in bank are uploaded on T+3 basis. Cash payment can be mapped with the bank and the assessee with PAN/TAN irrespective of the place of payment. A country wide network of 30 agency banks and their 13,000 branches including 3 private sector banks are authorized by the RBI for collecting direct .....

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ncies, if any, resolved. Digitization of paper returns and maintenance of online registers as well as processing and post processing activities such as scrutiny, appeal effects, rectification and penalty proceedings are also done in AST. Non-filers Monitoring System (NMS): The Non-filers Monitoring System (NMS) was implemented as a pilot project to prioritize action on non-filers with potential tax liabilities. Data analysis was carried out to identify non-filers about whom specific information .....

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. National Website of the Income Tax Department http://incometaxindia.gov.in A major initiative to enhance taxpayer services was launched by the Income Tax Department with the unveiling of the new National Website (www.incometaxindia.gov.in). This website is a one-stop-shop for all taxpayers, prospective taxpayers, common citizens, tax professionals, non-residents and even students for accessing all taxpayer services and information in a simplified and user-friendly manner. Centralized Processin .....

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Centralized Processing Cell (TDS) provides a comprehensive solution to deductors through Tax Deduction, Reconciliation, Analysis and Correction Enabling System (TRACES) - India is one of the very few countries to put in place an initiative of this scale for reconciliation of Tax Deducted at Source. Electronic Verification Code (EVC) :To facilitate the taxpayers and to provide end-to-end e-enabled services, a system of electronic verification of return of income has been launched by CBDT. A taxpa .....

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DT to dispose of grievances, there has been a substantial improvement in the disposal of grievances received through CPGRAMS. From 01.04.2014 to 22.07.2015, the overall disposal rate of the CPGRAMS grievances is 85%. E-Sahyog E-Sahyog pilot project was launched as an online mechanism to resolve mismatches in income-tax return through end to end e-service obviating the need to visit income-tax office by the taxpayer. Under this initiative the Department will provide an end to end e-service using .....

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