Union Finance Minister Arun Jaitley on Saturday approved the re-organization of the field formations of the Central Board of Excise and Customs (CBEC) for the implementation of Goods and Services Tax (GST). The approval by the minister will enable the existing formations of Central Excise and Service Tax under the CBEC to implement and enforce the provisions of the proposed GST. However, the CBEC is likely to be renamed as the Central Board of Indirect Taxes and Customs (CBIC), after getting legislative approval. The proposed CBIC shall, inter alia, supervise the work of all its field formations and Directorates and assist the Government in policy making in relation to GST,Read More
15th Meeting of the GST Council to be held tomorrow, 3rd June, 2017 – Approval of amendments to the draft GST Rules and related forms and Finalisation of the rates of tax and cess on the remaining commodities are on the Agenda among others for tomorrow’s meeting.
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