Thursday, May 9 2024 | Time 16:27 Hrs(IST)
image
Business EconomyPosted at: Jul 16 2018 6:59PM


CBIC chief pitches for adopting new tech in Customs administration

New Delhi, July 16 (UNI) Central Board of Indirect Taxes and Customs (CBIC) Chairperson S Ramesh on Monday pitched for adoption of modern technologies like Artificial Intelligence, Internet of Things (IoT) and Block Chain to streamline Customs administration across the globe.
"These technologies can be used extensively to facilitate cross border trade and to check tax evasion,” he said.
Speaking at an event to mark India becoming the Vice-Chair of the Asia Pacific (APAC) Region of World Customs Organisation (WCO) here, the CBIC Chairperson said the power of social media, analytics, and cloud computing in empowering customs administration in striking the right balance between facilitation and enforcement will have to be nurtured.
Mr Ramesh said there is no alternative than to adopt technology for the objective of facilitating trade and checking revenue loss.
The event was organised by Central Board of Indirect Taxes and Customs (CBIC) and CII.
"What we now require is to remove the bottlenecks in trade to have faster release time and have lower cost, and to enhance competitiveness and business opportunities.
UNI JA- JPG ADG 1859
Please log in to get detailed story.
Tags: #CBIC chief pitches for adopting new tech in Customs administration
More News

09 May 2024 | 4:14 PM

New Delhi, May 9 (UNI) India’s largest public sector bank State Bank of India (SBI) on Thursday reported about 24 percent jump in net profit at Rs 20,698 crore during Q4 (January-March) period of financial year 2023-24 compared to Rs 16,695 crore in same period in 2022-23.

see more..
Maruti Suzuki launches new Swift at starting price of Rs 6 49 lakh

Maruti Suzuki launches new Swift at starting price of Rs 6 49 lakh

09 May 2024 | 2:39 PM

New Delhi, May 9 (UNI) The country's largest carmaker Maruti Suzuki on Thursday launched the new Swift, the fourth generation premium hatchback, with a starting price of Rs 6.49 lakh (ex-showroom).

see more..

Maruti Suzuki launches new Swift at starting price of Rs 6 49 lakh

09 May 2024 | 2:30 PM

New Delhi, May 9 (UNI) The country's largest carmaker Maruti Suzuki on Thursday launched the new Swift, the fourth generation premium hatchback, with a starting price of Rs 6.49 lakh (ex-showroom).

see more..
Rupee up 5 paise against USD

Rupee up 5 paise against USD

09 May 2024 | 11:57 AM

Mumbai, May 9 (UNI) The Rupee on Thursday gained five paise to 83.47 against USD in the opening session on the sale of US Dollar by bankers and exporters, dealers at the Foreign Exchange said.

see more..
Sensex drops over 500 points

Sensex drops over 500 points

09 May 2024 | 11:56 AM

Mumbai, May 9 (UNI) The BSE Sensex remained weak for the third straight session on Thursday, tumbling down 517.72 points to 72948.67 in the opening session as selling was seen across the board.

see more..
image