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New central excise bill may lead to reduction in compliance burden
June 10, 2024
|The Morning Standard
THE new central excise bill 2024, proposed by the central government, aims to streamline the excise law by incorporating the CENVAT Credit provisions, which were previously governed by a separate delegated legislation.
Further, the Bill intends to borrow the concept of 'related persons' from Customs and GST Laws. It will do away with the outdated provisions, incorporate the relevant regulations in the Act itself and align excise law with the GST and Customs framework for ensuring a more cohesive indirect tax system.
"The Bill may lead to a reduction in compliance burden, and provide a comprehensive legal framework better suited to the current economic landscape.
هذه القصة من طبعة June 10, 2024 من The Morning Standard.
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