CBIC Sets Up Working Groups To Facilitate Exports
The Central Board of Indirect Taxes and Customs has set up three working groups to suggest ways to facilitate exports, especially through e-commerce, and improve compliance by way of curbing tax evasion.
The CBIC has constituted three working groups to study and recommend measures to facilitate trade, promote exports and improve compliance, the board said in a statement.
The working groups will focus on export promotion and facilitation with emphasis on boosting exports through e-commerce, addressing the trade facilitation barriers faced in India's export market and improving the quality of logistics services for exporters.
It will focus on enhancing compliance, plugging loopholes to improve customs revenue collections and curb Integrated Goods and Service Tax refund frauds, CBIC said.
The groups will also work towards improving the legislative structure of customs tariff and update it to suit the emerging and future needs of the economy and industry, it added.
Special focus would be given to create a comprehensive export tariff structure to enhance India’s export competitiveness.CBIC Statement
The groups will consult stakeholders, including export promotion councils, and submit report within two months.
CBIC Chairman Pranab Kumar Das said the recommendations of the groups would further enhance the ease of doing business and export competitiveness.
“CBIC will be using advanced data analytics tools for augmenting revenue and curbing frauds,” Das said.