Latest news with #NirmalaSitharaman
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Business Standard
3 hours ago
- Business
- Business Standard
Fifth edition of Time Release Study shows faster import clearance at ports
Finance Minister Nirmala Sitharaman on Friday released the fifth edition of the National Time Release Study (NTRS), which showed a significant reduction in average cargo release times across key import gateways between 2023 and 2025. According to the central board of indirect taxes and customs (CBIC) report, average release times fell by approximately six hours at seaports, 5 hours at air cargo complexes (ACCs), and 18 hours at integrated check posts (ICPs). However, inland container depots (ICDs) recorded a 12-hour increase during 2023 and 2025. The study also revealed that 93.33 per cent of import cargo at ICPs met the 48-hour release target set under the National Trade Facilitation Action Plan (NTFAP) 3.0, followed by 55 per cent at ACCs, 51.8 per cent at seaports, and 43.7 per cent at ICDs. Export clearance times remained fastest at air cargo complexes, where regulatory clearance took less than 4 hours. In contrast, export processing at seaports averaged nearly 30 hours, with logistics post-clearance stretching to more than 157 hours. 'High levels of facilitation (87–93 per cent) were observed across ports. Release times were also influenced by cargo characteristics. For instance, refrigerated goods moved faster through air cargo, factory-stuffed cargo was cleared quicker than ICD-stuffed cargo,' the government said. Sitharaman unveiled the report during the CBIC Conclave in New Delhi. The 'Path to Promptness' framework -- emphasising advance filing, risk-based facilitation, AEO accreditation, and Direct Port Delivery-- was cited as a major driver of improvements. However, delays persisted in areas like duty payments, regulatory query resolution, and post-clearance logistics.
Time of India
3 hours ago
- Health
- Time of India
Yaduveer requests GST revision on yoga training schools
Mysuru: Mysore MP Yaduveer Wadiyar requested a revision of the Goods and Services Tax (GST) imposed on yoga training schools. The MP met with Union finance minister Nirmala Sitharaman to request a reduction in GST. These yoga schools are categorised alongside fitness centres and are subjected to an 18% GST. This creates significant challenges for these yoga institutions, as highlighted in the letter. In his letter, the MP stated that yoga, deeply rooted in our Indian culture, is now widely practised everywhere. Promotion and support for yoga are happening not only at the national level but also internationally. Mysuru is known as the Yoga Capital of the World. Yoga is not just a physical exercise; it enhances mental and spiritual well-being. Yoga has now become a part of a healthy lifestyle. Our Prime Minister Narendra Modi has given significant importance to yoga. Due to his continuous efforts, June 21 is now celebrated as International Yoga Day, Yaduveer explained.
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Business Standard
3 hours ago
- Business
- Business Standard
GST evasion detection hits all-time high of ₹2.23 trillion in FY25
FM Nirmala Sitharaman urges faster probe closures and easier registrations Monika Yadav The Central Board of Indirect Taxes and Customs (CBIC) detected Goods and Services Tax (GST) evasion of ₹2.23 trillion in the financial year 2024-25 (FY25), an all time high figure which was 10 per cent more than the previous year's ₹2.02 trillion. In FY23, the GST evasion stood at ₹1.01 trillion. In FY25, voluntary payments by taxpayers stood at ₹28,909 crore, according to data shared at the CBIC Conclave held in New Delhi on Thursday. Chairing the meeting, Finance Minister Nirmala Sitharaman called for speedy closure of investigations in Customs and CGST cases, stronger action on tax evasion, and time-bound improvements in GST registration and grievance redressal. Audit coverage under GST rose from 62.21 per cent in FY23 to 88.74 per cent in FY25, with officials highlighting that no taxpayer had been audited more than once in a three-year span. Refund performance also improved, with 85 per cent of claims processed within the statutory 60-day limit. The national average for GSTR-3B return filing reached 94.3 per cent during the FY25. 'An impressive 95 per cent to 97 per cent of CPGRAMS appeals are being disposed of within 30 days. This performance has placed CBIC among the top 5 out of 90 central ministries in CPGRAMS rankings since February 2024,' the release stated. Sitharaman urged the department to intensify awareness campaigns among taxpayers and trade bodies, particularly on the documentation required for GST registration-- citing frequent rejections due to issues with proof of principal place of business. She called for dedicated helpdesks within CGST zones to assist with registration applications. In Customs, cargo facilitation through the Risk Management System rose to 86 per cent in 2025, up from 82 per cent in 2022. The finance minister asked zones to further reduce dwell time for imports and exports at ports and Inland Container Depots (ICDs) to improve India's trade logistics competitiveness. As per the government, CBIC handed over 2,140.35 kg of seized gold to the Security Printing and Minting Corporation of India (SPMCIL) in FY25.
Hindustan Times
4 hours ago
- Business
- Hindustan Times
Make GST registration easier using technology, risk-based parameters: Nirmala Sitharaman
NEW DELHI: Union finance minister Nirmala Sitharaman on Friday told taxmen to make the Goods and Services Tax registration process easier, seamless, and more transparent with the use of technology and risk-based parameters. Union finance minister Nirmala Sitharaman asked CBIC to make the GST registration easier, seamless, and more transparent for taxpayers (PIB) Addressing a conclave of the Central Board of Indirect Taxes and Customs (CBIC), Sitharaman told officials to prepare an action plan to improve various parameters such as GST registration, processing of refunds, and handling taxpayers' grievances. The conclave was attended by principal chief commissioners, chief commissioners and director generals and field formations of the CBIC in New Delhi. During the conclave, CBIC highlighted the performance of customs and CGST zones on key indicators such as grievance redressal, refunds, audit and enforcement. The average time for grievance disposal has been reduced to just nine days, significantly better than the stipulated 21-day timeline, the finance ministry said in a statement. On refunds, 85% of claims were processed within the statutory 60-day limit, it said. GST audit coverage went up from 62.21% in 2022–23 to 88.74% in 2024–25. Detection of GST evasion had improved to ₹ 2,23,170 crore in 2024–25, with voluntary payments totalling ₹ 28,909 crore. The number of taxpayers repeated for audit more than once in three years is zero, it said. In the area of enhanced trade facilitation, facilitation of cargo through the risk management system (RMS) has steadily increased, with 86% of cargo being facilitated in 2025, up from 82% in 2022. Similarly, in 2024-25, 2140.35 kgs of seized gold were disposed of by handing it over to SPMCIL, it said. The finance minister also directed the Central GST (CGST) formations to launch targeted awareness campaigns among taxpayers, trade associations, and industry bodies regarding the mandatory documentation required for GST registration, particularly those related to the principal place of business, it said. This would help reduce rejections and delays in registration and enable faster processing of applications, she said. The minister also directed CGST zonal heads to have a dedicated helpdesk for GST registrations to facilitate the taxpayers in the application process. Sitharaman highlighted the need to ensure that GST 'seva kendras' and customs 'turant suvidha kendras' are well-staffed, accessible, and properly maintained, so that taxpayers receive timely and quality assistance. Emphasising taxpayer trust, she called for a targeted and sustained focus on grievance redressal, ensuring the timely resolution of queries and complaints through improved systems and accountability. Sitharaman also called for the speedy closure of investigations for Customs and CGST cases, and stressed the need to seek solutions to reduce the gap between detection and recovery. At the same time, the minister emphasised the need for preventing tax evasion and wrongful Input Tax Credits (ITC) claims. NTRS 2025 Sitharaman also released the fifth edition of the National Time Release Study -- NTRS 2025. According to the report, India has seen significant improvement in the average cargo release time in all four categories -- seaports, inland container depots (ICDs), integrated check posts (ICPs) and air cargo complexes (ACCs). The time release study (TRS) is a performance measurement tool that provides a quantitative assessment of the time taken for cargo release, helping to evaluate the efficiency of the clearance process. Since 2019, TRS has been conducted at 15 major locations, including seaports, ACCs, ICDs, and ICPs. In the import segment, average release time (ART) has declined between 2023 and 2025 across seaports by about six hours, ACCs by about five hours, and ICPs by approximately 18 hours. There has been an increase of about 12 hours in the case of ICDs, a finance ministry statement said, citing the report. A key strength of India's TRS lies in its use of accurate and reliable data sourced directly from the customs automated system, operated by the Directorate General of Systems and Data Management in the CBIC, the statement said. Over the years, the scope of TRS has significantly expanded. What began as a report measuring release time across select gateway ports now includes other areas of considerable importance, such as transit cargo, courier shipments, and commodity-specific assessments, it added. The fifth edition also adopted advanced methodologies to enable stage-wise and process-specific evaluations. This edition marked another milestone by widening its geographical coverage to three additional ports -- Kochi seaport, Garhi Harsaru ICD and Jaigaon land customs station (LCS).
Indian Express
4 hours ago
- Business
- Indian Express
Sitharaman calls for speedy closure of investigations, easier GST registration process
Union Finance Minister Nirmala Sitharaman on Friday called for speedy closure of investigations, measures to prevent tax evasion and wrongful input tax credit claims, and underlined the need to make the 'GST registration process easier, seamless, and more transparent' for taxpayers. Chairing a conclave with senior field officers from Customs, Goods and Services Tax (GST) and Central Board of Indirect Taxes and Customs (CBIC), she also stressed on the need for zone-specific action plans to improve upon various parameters such as GST registration, processing of refunds, and handling taxpayers' grievances. The wide-scale evasion under the GST regime, the need to reduce the gap between detection and recovery during investigations featured as the key discussion points in the meeting of officers from the Central. More technology-linked and risk-based compliance measures were also stressed upon during the meeting, officials said. As per the Ministry, GST audit coverage rose to 88.74 per cent in FY 2024-25. Detected GST evasion stood at Rs 2.23 lakh crore in FY25, with voluntary payments totalling at Rs 28,909 crore. Customs and GST officers were asked to undertake analysis on detection and recovery and to seek solutions to reduce the gap between detection and recovery, a statement from the Ministry of Finance said. 'The CBIC was urged by the Finance Minister to expedite the processing of GST and Customs refunds to ensure timely redressal and ease of doing business, especially for MSMEs and exporters,' it said. Officers have been urged to reduce dwell time at seaports, airports, and Inland Container Depots (ICDs) for both imports and exports, with emphasis on faster cargo clearance. The Union Finance Minister also directed the central GST formations to launch targeted awareness campaigns among taxpayers, trade associations, and industry bodies about mandatory documentation required for GST registration, particularly those related to the principal place of business. 'This, the Union Finance Minister emphasised, would help reduce rejections and delays in registration and enable faster processing of applications,' the statement said. Ahead of the conclave, field officers were asked to submit details regarding pending refunds, investigations, adjudications, litigation along with the number of frauds and recoveries. In a series of missives sent to the field officers last week, the CBIC and CBDT had sought detailed information regarding the pendency claims, pending refunds, frauds, investigations and the cases stuck in litigation. The Central Board of Direct Taxes (CBDT) will host a similar session with its field officers on June 23. Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there. ... Read More
