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Tag: Central Board of Indirect Taxes and Customs (CBIC)

Centre starts QRMP scheme for GST payers

December 8, 2020
GST collection
  • The Central Government has started the ‘Quarterly Return filing & Monthly Payment of Taxes (QRMP)’ scheme for small taxpayers under the GST system.
  • Taxpayers with an aggregate yearly turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 30, 2020, are eligible for this scheme.
  • The notifications for the same were issued by the Central Board of Indirect Taxes and Customs (CBIC).

CBIC and CBDT sign MoU on Data Sharing

July 22, 2020
Data Sharing
  • The Central Board of Direct Taxes (CBDT) has signed an MoU with the Central Board of Indirect Taxes and Customs (CBIC) for the bilateral exchange of data.
  • The agreement will help to facilitate the exchange of information between the boards regularly.