As a measure of harmonization between Central Excise and Service Tax, the Government has made a number of alignments. This was announced by the Finance Minister ShriPranab Mukherjee while presenting the Union Budget 2012-13 in LokSabha today. These include a common simplified registration form and a common return for Central Excise and Service Tax, to be named EST-1. This common return will comprise only one page, which will be a significant reduction from the 15 pages of the two returns at present.
One Page Common Return for Central Excise and Service Tax Proposed
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- GST Council Recommends Major Compliance Reforms: IPR Taxation, Late Fee Relief and E-Invoicing Changes
- GST Council Recommends Major Reforms in ITC Refunds, Blocked Credits and Export Benefits
- GST Council Recommends Changes to E-Way Bill Rules to Ensure Smoother Movement of Goods
- GST Council Recommends Withdrawal of Arrest Powers, Raises Prosecution Threshold to Rs 5 Crore
- 57th GST Council Recommendations Relating to Services
- 57th GST Council Meet Recommends Changes and Clarifications in GST Rates on Goods and Services
- GST Dispute Reforms: Rs 10,000 Notice Threshold and 5% Penalty Proposed in Non-Fraud Cases
- GST Council Proposes Automated Refunds, 90% Provisional Refunds and Faster Processing
- GST Return Reforms: New ITC Reconciliation Mechanism Proposed from April 2027
- 57th GST Council Meet Recommends Major GST Registration Reforms for Faster Approvals
Popular News
- Central Excise Duty Rates Revised: Rs 16 and Rs 10.5 Per Litre Effective 1st October 2026
- Supriya Sule Urges FM Sitharaman to Extend Tax Audit Due Date for AY 2026-27
- ICAI Delegation Meets CBDT Member Vatsala Jha, Raises Tax Audit Deadline Concerns
- CBDT Extends Tax Audit Due Date for AY 2026-27 to 21st October 2026; ITR Deadline Moved to 21st November
- MP High Court Petitions Challenge AY 2026-27 Tax Audit Deadline
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
