goods and service tax
In the latest communication from the Chairman of the Central Board of Indirect Taxes & Customs (CBIC), dated June 6, 2022, significant reflections and updates are provided as the nation prepares to celebrate the Azadi Ka Amrit Mahotsav, marking 75 years of independence. This newsletter emphasizes the essence of freedom, highlights environmental initiatives, and acknowledges enforcement actions taken by various departments.
As we approach the Iconic Week of Azadi Ka Amrit Mahotsav, it is essential to contemplate the true meaning of Azadi or Freedom. The philosophical insights of notable thinkers, including Socrates and Sartre, shed light on this concept. Notably, Rabindranath Tagore’s poignant verses in Gitanjali exemplify the idea of freedom as:
This understanding of freedom inspires us to strive for self-improvement and uphold integrity as we celebrate this Amrit Kaal, heading towards the centenary of our independence.
In alignment with global environmental consciousness, particularly on the 50th Anniversary of World Environment Day, the National Academy of Customs, Indirect Taxes and Narcotics (NACIN) launched a Green Campus Program. This initiative aims to:
This campus, designed to host more than one lakh native trees, shrubs, and herbs, will enhance biodiversity and support ecological preservation. Appreciation is due to the Principal Director General of NACIN and the dedicated team for their commendable efforts.
On the enforcement front, reflecting our dedication to safeguarding our natural heritage, the Directorate of Revenue Intelligence (DRI) successfully intercepted an export consignment that contained 14.63 metric tons of Red Sanders. This seizure is valued at over Rs. 11 Crore in the international market. Congratulations to the Principal Director General of DRI and the team for their outstanding detection work.
Furthermore, through data analytics, it has been identified that approximately 500 firms across multiple states engaged in fraudulent transactions exceeding Rs. 700 Crore and unlawfully passed Input Tax Credit amounting to Rs. 83.75 Crore. Kudos to the Chief Commissioner of Bhopal CGST & Customs Zone and the team for their diligence in this investigation.
As I conclude this weekly update, I would like to express my gratitude to the entire CBIC family for their enthusiastic participation in the Azadi Ka Amrit Mahotsav events. Their hard work in conducting Walkathons, Nukkad Nataks, tree planting, exhibitions, seminars, and lectures is commendable. Let’s continue to work together with this spirit!