Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: articles on VAT and GST in India :: VAT Audit :: ACCOUNTING STANDARD :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT RATES :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
News Headlines »
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol
 6 Tax notices you may get and how to cope with them Income Tax Notice
 Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide
  Central Goods and Services Tax (Second Amendment) Rules, 2018
 Income Tax Return Filing Deadline: Waiver On LTCG Tax To End On 31 March. Details Here
 Income tax returns (ITR) filing: Top mistakes that can be very costly
 Income Tax Return (ITR) filing: 6 last-minute things you can still do to save tax for FY17-18
 How to file Income Tax Returns online in 5 simple steps

450 exporters face revenue dept heat
November, 24th 2006
Around 450 exporters are under the lens of the revenue department for possible misuse of supplementary drawback claims of Rs 15-20 crore over the last three years. 
The move has been initiated following the detection of misuse of duty drawback benefits by some exporters. 
Revenue department officials said the case came to light earlier this year when the department found some exporters were claiming supplementary drawback through special drawback rates, which had not been notified by the revenue department. Initially, the scale of the fraud was estimated at around Rs 8 crore. 
In July this year the department referred the matter to the Central Bureau of Investigation (CBI). 
An outsourced worker handling the online system for the Customs department was arrested after he was found to be using the login identity of Customs officers without their authorisation. 
Further investigation by the CBI found manipulation in the software of the National Informatics Centre, the government agency that handles data systems for the Central Board of Excise and Customs. 
When contacted, a CBEC spokesperson said the CBI had made some arrests in the case. National Informatics Centre officials did not comment on the matter. 
Officials said the department had already recovered Rs 10 crore. Following the case, the CBEC has also asked its field formations for suggestions on how to beef up the security of the data systems. 
The revenue department has begun issuing showcause notices to all exporters who have made supplementary drawback claims in the last three years, according to Ajay Sahai, director-general, Federation of Indian Export Organisations. 
Since the fraud has been detected in the Indira Gandhi International airport, the department should first verify with Punjab National Bank (the nodal bank for drawback on exports from the airport) to see how many claims have been made by exporters, he said. 
Several supplementary drawback claims were made since the drawback rates were increased by the department with retrospective effect. The cases where one exporter has made more than half a dozen supplementary claims on the same shipping bill are the ones that should be examined, he said. 
There are two kinds of drawback the all industry drawback rates and the brand rate of drawback. 
The all industry drawback rate takes into account the yield ratio, which is the duty suffered on the item vis--vis the export price, while the brand rate is fixed for a company for a particular product. 
However, officials added that there was no proposal to shift the systems operations from the National Informatics Centre to another organisation.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions