Department of Revenue Current Affairs - 2020

Pending Income Tax Refunds of Rs 62,361 crore paid to a total of 20,44,597 Taxpayers from 8th April to 30th June

Not only to health and freedom of movement, but the COVID-19 pandemic has also made a much larger financial impact on the economy for individuals and business entities (including MSMEs) across the world. Between 8th April to 30th June 2020 which had a total of 56 weekdays (Monday to Friday), the Income Tax Department of Read More…

Government implements Project ‘SPARROW-CBIC’ for online writing of APAR

Government of India has now implemented Project ‘SPARROW-CBIC’ for online writing of Annual Performance Appraisal Report (APAR) in SPARROW, for over 46,000 Group ‘B’ and Group ‘C’ Officers of Central Board of Indirect Taxes & Customs (CBIC) working in its various formations all across India. The term SPARROW stands for ‘Smart Performance Appraisal Report Recording Read More…

CBIC sets up Working Groups to Facilitate Exports, Curb Tax Evasion

The Central Board of Indirect Taxes and Customs (CBIC) has constituted three working groups to suggest ways to facilitate exports, especially through e-commerce, and improve compliance by way of curbing tax evasion. The Working Groups would study and recommend measures to facilitate trade, promote exports and improve compliance. Mandate of Working Groups Export promotion and facilitation Read More…

Government imposes anti-dumping duty on ceramicware from China

The Union Finance Ministry (Department of Revenue) has imposed anti-dumping dutyon import of ceramic tableware and kitchenware from China in bid to protect domestic producers. Both items will attract anti-dumping duty of $1.04 per kg, making the imports expensive. The protectionist measure against cheap Chinese import was based recommendation of Directorate General of Anti-Dumping and Read More…

Government makes mandatory for Banks to match original IDs with photocopies

The Department of Revenue (DoR), Finance Ministry has made it mandatory for banks and financial institutions to check original identification documents of individuals dealing in cash above prescribed threshold to weed out  use of forged or fake copies. In this regard, DoR has issued an official gazette notification making an amendment to Prevention of Money-laundering Read More…