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Date: 05/11/2024

Finish tax evasion probe against exporters in 1 yr: CBIC

The Central Board of Indirect Taxes & Customs (CBIC) has set a timeline of one year to complete an investigation into matters related to tax evasion by exporters/importers. It has reiterated that summons should not be issued to senior management, such as CEOs, CFOs and General Managers, of large companies or PSUs at the first instance. This direction is part of the new guidelines about the investigation of commercial intelligence/fraud (CI) cases. These are distinct from the category generally referred to as outright smuggling cases. Since the import and export of goods are also connected with doing business, the approach in investigating CI cases must be in line with ease of doing business, stated a CBIC communication to field formations dated November 1. Moreover, the closure report, consequent to the appropriate payment of government dues by the person concerned, should also not be delayed, as per a report.
 
Source: Exim News Service: New Delhi, Nov. 4



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