MUMBAI: The Central Board of Indirect Taxes and Customs (CBIC) on Saturday announced setting up of three working groups to study and recommend measures to improve tax compliance, trade, and promote exports. The groups are to submit their reports in two months.
“Enhancing compliance, plugging loopholes to improve revenue collection on customs and curb IGST (Integrated Goods and Services Tax) refund frauds,” is what one study would look at and give recommendations. The groups would also recommend export tariff structure to make exports competitive, and customs tariff that is in line with the emerging and future needs of the economy and industry.
Other points of focus are measures to boost exports through e-commerce, address trade barriers, and improving logistics services for exporters. All stakeholders including the export promotion councils would be consulted by the groups and also the concerned wings in the Ministry of Commerce and Industry.
“The recommendations of the groups, which will be taken-up for the 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”, said Pranab Kumar Das, chairman, Central Board of Indirect Taxes and Customs.