Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: form 3cd :: TDS :: VAT RATES :: empanelment :: cpt :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

Three-fold revenue rise for Gujarat customs dept
April, 21st 2011

The import figures for the state have seen a healthy rise in the last financial year. As a result, revenues for Gujarat customs department have seen a three-fold rise. The department realized Rs 18,454 crore revenues between April 2010 and February 2011, which was Rs 7,581 crore for the corresponding period last year.

The revenues have mainly come from increased imports of petroleum products like crude oil and refined petroleum oil, gold and industrial machinery. The department's revenue from crude oil import jumped from Rs 905.67 crore to Rs 6835 crore which is a whopping 654% rise.

Also revenues from import of gold which stood at Rs 364.16 crore last year moved up by 116.6% to Rs 789.72 crore. "The public and private oil companies and refineries have seen impressive growth figures in the last fiscal, which has fueled the three-fold increase in collection of revenues for the customs department in Gujarat," said a senior customs official.

He added that Gujarat was the first state in the country to interlink all ports and concerned authorities through the web which has considerably reduced the paper work involved in getting import license. The last financial year also saw continuous exploitation of Gujarat shores for smuggling of Red Sanders and other banned products.

The customs department had last year seized 6.08 metric tonne worth Rs 72.6 lakh of Red Sanders which was being smuggled to Dubai from Gujarat. Meanwhile, Ahmedabad central excise zone fell short of the annual revenue target collection of Rs 7,585 crore.

However, Rs 7,246.42 crore of revenue collected in the last financial year was around 12% up from the figures collected last year

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software 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