CBIC sets up three working groups to enhance exports, improve compliance

New Delhi, Feb 23 (IANS) The Central Board of Indirect Taxes and Customs (CBIC) has constituted three working groups to study and recommend measures to facilitate trade, promote exports and improve compliance.The CBIC, in a statement, said that working groups will submit their report within two months.According to the statement, the working groups will focus on "improving the legislative structure of customs tariff and update it to suit the emerging and future needs of the economy and industry"."Special focus would be given to create a comprehensive export tariff structure to enhance India's export competitiveness."As per the statement, the groups will consult stakeholders including the export promotion councils and relevant wings of the Ministry of Commerce and Industry."The recommendations of the groups, which will be taken up for implementation on priority, would further enhance the ease of doing business and export competitiveness. CBIC will be using advanced data analytics tools for augmenting revenue and curbing frauds," Pranab Kumar Das, Chairman, Central Board of Indirect Taxes and Customs was quoted in the statement.
--IANS rv/vd