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Why in the news? CBIC initiates electronic disbursal of duty drawback funds. Duty drawback amounts are now directly credited to exporters’ bank accounts via the PFMS platform, as announced by the Central Board of Indirect Taxes and Customs. About Central Board of Indirect Taxes & Customs (CBIC): Previously known as the Central Board of Excise …
Read MoreSyllabus: GS 2: Issues arising out of their Design and Implementation of Policies Bilateral, Regional and Global Agreements involving India and/or affecting India’s interests. GS 3: Taxation and Effects of Liberalization on the Economy, Why in the News? This article is in the news due to recent amendments to the India-Mauritius tax treaty, aimed at …
Read MoreWhy in the news? India-Mauritius tax treaty amended to prevent tax evasion, impacting investments; concerns raised over treatment of past investments. source:reseauvoltaire Understanding India-Mauritius Tax Treaty Amendment: India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to prevent tax evasion or avoidance. The amended pact includes the Principal Purpose Test …
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