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The responsibility of collecting the tax lies with the Central Board of Excise and Customs (CBEC). From 2012, service tax is imposed on all services, except those which are specifically exempted under law(e.g. Exempt under Negative List, Exempt as exclusion from Service definition as per Service Tax, Exempt under MEN(Mega exemption notification)).
Chairperson, Central Board of Indirect taxes and Customs or Chairperson, CBIC is the senior most IRS (C&IT) officer in the Government of India.The Chairperson is the ex officio Secretary to the Government of India and also cadre controlling authority of the Indian Revenue Service (Customs & Indirect Taxes).
A model TIEA was developed by the OECD Global Forum Working Group on Effective Exchange of Information. This exchange of information on request was supplemented by an automatic process on 29 October 2014. [2] The automatic process is to be based on a Common Reporting Standard.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
Printable version; In other projects Wikidata item; Appearance. move to sidebar hide. CBEC may refer to: Central Board of Excise and Customs ...
HM Customs and Excise (properly known as Her Majesty's Customs and Excise at the time of its dissolution) was a department of the British Government formed in 1909 by the merger of HM Customs and HM Excise; its primary responsibility was the collection of customs duties, excise duties, and other indirect taxes.
The U.S. Information and Educational Exchange Act of 1948 (Public Law 80-402), popularly called the Smith–Mundt Act, was first introduced by Congressman Karl E. Mundt (R-SD) in January 1945 in the 79th Congress. It was subsequently passed by the 80th Congress and signed into law by President Harry S. Truman on January 27, 1948.
Electronic Broking Services (EBS) is a wholesale electronic trading platform used to trade on the foreign exchange market (FX) with market-making banks. It was originally created as a partnership by large banks and then became part of CME Group. [1]