Home / Knowledge / News / Apparel/Garments / CBEC lays down rules on raids for tax evasion
CBEC lays down rules on raids for tax evasion
17
Jun '16
The revenue department has directed excise officials to visit readymade garment retail outlets or chains only when they have specific inputs regarding duty evasion and that too after the approval of senior officers.

The Central Board of Excise and Customs (CBEC) was clarifying on the scope of levy of excise duty on branded readymade garments having a retail sale price of Rs 1,000 or more.

In the Budget 2016-17, excise duty was increased on branded readymade garments and made up articles of textiles of retail sale price of Rs 1,000 or more. The new duty is 2 per cent (without CENVAT credit) or 12.5 per cent (with CENVAT credit).

"...it is hereby directed that field formations shall not visit individual retail outlets or retail chains, except based on specific inputs regarding duty evasion and with the approval of the jurisdictional Commissioner or Additional Director General or above," the CBEC said in a circular.

To avoid disputes and minimise duty evasion, it said it has also been provided that affixing a brand name on the product, labeling or relabeling of its containers or repacking from bulk packs to retail packs or the adoption of any other treatment to render the product marketable to the consumer, amounts to manufacture.

"Further, merely because the outlets (shop) of a retailer, from where readymade garments or made ups are sold, has a name, say, M/s XYZ and Sons, the readymade garments or made ups sold from such outlet (shop) cannot be held as branded readymade garments or made ups and become liable to excise duty," the circular said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search