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Cabinet clears Rs 2,256 -crore project for GST integration

Cabinet clears Rs 2,256 -crore project for GST integration

‘Saksham’ to assist smooth rollout of new tax regime29 Sep 2016 | 12:41 AM

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) today approved a Rs 2,256 crore IT project “Saksham” of the Central Board of Excise and Customs (CBEC), designed to integrate CBEC systems with the Goods and Services Tax (GST) Network before the rollout in April next year.

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Tribune News Service

New Delhi, September 28

The Cabinet Committee on Economic Affairs (CCEA) today approved a Rs 2,256 crore IT project “Saksham” of the Central Board of Excise and Customs (CBEC), designed to integrate CBEC systems with the Goods and Services Tax (GST) Network before the rollout in April next year.

The total project cost involved is Rs 2,256 crore which will be incurred over a period of seven years. The project will help in implementation of GST, extension of the Indian Customs Single Window Interface for Facilitating Trade (SWIFT) and other taxpayer-friendly initiatives under Digital India and ease of doing business of the CBEC.

An official statement said the implementation strategy for the project would be to ensure readiness of the CBEC’s IT framework by April 1, 2017, when GST is to be introduced. 

The CBEC’s IT systems need to integrate with the GST Network (GSTN) for processing of registration, payment and returns data sent by GSTN systems to the CBEC, as well as act as a front-end for other modules such as audit, appeal and investigation. There is no overlap in the GST-related systems of the CBEC and the GSTN, the statement said.

This IT infrastructure is also urgently required for continuation of the CBEC’s e-services in customs, central excise and service tax, implementation of taxpayer services such as scanned document upload facility, extension of SWIFT initiative and integration with government initiatives such as e-nivesh, e-taal, e-sign.

The introduction of GST will result in a several-fold increase in the number of taxpayer and resultant document load on the system. The CBEC’s current IT system was set up in 2008. It cannot cater to the increased load under GST without an immediate upgrade of its IT Infrastructure.

Tax drive offers ‘no absolution’, to yield little cash for Centre

Tax drive offers ‘no absolution’, to yield little cash for Centre

29 Sep 2016 | 12:41 AM

New Delhi: The government has sent out about 7,00,000 notices to suspected tax evaders to coax them to declare hidden income and assets, promising they won’t be pursued by the authorities if they pay a penalty now to clear their name.

Videocon Telecom to apply for VNO licence

29 Sep 2016 | 12:41 AM

Chandigarh: Videocon Telecom is in process of filing an application with the Department of Telecommunication (DoT) for the unified virtual network operator (VNO) licence.

Nod to Indian oil companies’ Russian buy

29 Sep 2016 | 12:41 AM

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) gave its nod to a consortium of Indian Oil Corporation (IOC), Oil India and Bharat Petroleum Corporation Limited (BPCL) buying stakes in two Russian oilfields for $3.14 billion.

Walmart to buy Flipkart stakeBriefly

Walmart to buy Flipkart stake

29 Sep 2016 | 12:41 AM

New Delhi: The world’s largest retailer Walmart is said to be in advanced discussions to invest $1 billion for a minority stake in e-commerce major Flipkart, a move aimed at taking on their common rival Amazon in India.

Apple to sell iPhone 7, iPhone 7 Plus on Flipkart

28 Sep 2016 | 10:30 PM

NEW DELHI:E-commerce major Flipkart has partnered tech giant Apple to sell the latest edition of iPhone on its platform from October 7.

Apple to sell iPhone 7, iPhone 7 Plus on Flipkart

Apple to sell iPhone 7, iPhone 7 Plus on Flipkart

28 Sep 2016 | 10:15 PM

NEW DELHI:E-commerce major Flipkart has partnered tech giant Apple to sell the latest edition of iPhone on its platform from October 7.

Cabinet clears Indian consortium's stake buy in Russian oilfield

28 Sep 2016 | 8:41 PM

NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the purchase by a consortium of Indian Oil, Oil India and Bharat Petroleum of stakes in two Russian oilfields for a total of $3.14 billion.

BlackBerry to outsource handsets, will halt production

BlackBerry to outsource handsets, will halt production

28 Sep 2016 | 8:29 PM

MONTREAL: BlackBerry, the Canadian firm that helped pioneer the smartphone market, said on Wednesday it would stop making handsets, outsourcing production to an Indonesian partner.

CCEA clears Rs 2,256-cr project for CBEC’s GST integration

28 Sep 2016 | 3:46 PM

NEW DELHI: CCEA on Wednesday cleared a Rs 2,256-crore IT project Saksham of the Central Board of Excise and Customs, which will help integrate CBEC’s system with the GST network before the rollout in April next year.

Airtel offers free incoming call on international roaming

Airtel offers free incoming call on international roaming

28 Sep 2016 | 3:31 PM

NEW DELHI: With the entry of Reliance Jio setting off a price war, Airtel on Wednesday said its customers can enjoy free unlimited incoming calls on international roaming while travelling to popular destinations like the US, Canada, the UK and Singapore.

Canada approves $36-bn LNG project, eyes Asia

Canada approves $36-bn LNG project, eyes Asia

28 Sep 2016 | 2:55 PM

MONTREAL: Canada approved a massive $27-billion project by Malaysia’s Petronas to build a liquefied natural gas pipeline along its Pacific Northwest coast, targeting Asian markets.

Cooperation in infra, energy sectors to benefit India, Nigeria: Ansari

Cooperation in infra, energy sectors to benefit India, Nigeria: Ansari

28 Sep 2016 | 2:48 PM

ABUJA: India has identified infrastructure development and energy security as the key areas for cooperation with Nigeria and said these sectors would allow both countries to collaborate and benefit from each other’s expertise.

ADB forecasts India’s growth at 7.4% in FY17

28 Sep 2016 | 1:58 AM

MANILA:The Asian Development Bank (ADB) kept its growth estimates for developing Asia for this year and next at 5.7%, saying sustained expansion in China and India can steady the region but warned of risks from a looming US interest rate hike.

Google brings Wi-Fi station, ‘YouTube Go’ for India

Google brings Wi-Fi station, ‘YouTube Go’ for India

28 Sep 2016 | 1:07 AM

NEW DELHI:Tech giant Google today announced a bouquet of new products for the Indian market that are suited to work with low internet speeds.

RJio call drops due to its under-preparedness: Airtel

28 Sep 2016 | 1:07 AM

New Delhi: Airtel on Tuesday blamed RJio itself for network connectivity issues and call failures, saying they are due to Jio’s own “under-preparedness”, insufficient testing efforts and acquiring a large number of customers at the pre-launch stage itself.

Monthly returns to be mandatory under GST

28 Sep 2016 | 1:07 AM

New Delhi: Moving at a fast pace, the tax department on Tuesday came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.

BRIFFLY

USTDA, IndianOil join hands for cleaner fuels

28 Sep 2016 | 1:07 AM

The US Trade and Development Agency (USTDA) and IndianOil will jointly work to explore cleaner fuels.

WTO lowers global trade growth to 1.7% this year

WTO lowers global trade growth to 1.7% this year

27 Sep 2016 | 2:54 PM

GENEVA: The World Trade Organization has for the third time lowered its global trade growth forecast for this year to 1.7 per cent, stating that this slowdown is "serious" and should serve as a "wake-up call" for nations.

Call drop: Telcos face TRAI fire

Call drop: Telcos face TRAI fire

27 Sep 2016 | 1:10 AM

NEW DELHI:As row between incumbents like Airtel and new entrant Reliance Jio escalated, telecom regulator TRAI today stepped in and said it will slap show-cause notices on operators for call drops that are far exceeding the norm.

Income tax declaration scheme

I-T Dept rules out extension of deadline

27 Sep 2016 | 1:10 AM

CHANDIGARH:With just four days to go before the closure of the compliance window under the Income Tax Declaration Scheme, 2016, the Income Tax Department has said the September 30 deadline for filing disclosure under the scheme will not be extended.

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