In News: Central Excise Day is celebrated every year on February 24 across India to encourage the employees of the excise department to carry out the central excise duty in a better way.
About Central Excise Day 2021
- It is observed on 24th February every year to commemorate the Central Excise and Salt Act which was enacted on 24th February 1944.
- The day honours the contribution of the Central Board of Indirect Taxes and Customs (CBIC) to the country and the officers associated with it and their services. The day also encourages the officers to carry out their duties with utmost sincerity. Every year, officers do their duties of checking the corruption of goods from the manufacturing sector.
- The Central Excise Department plays an important role in the industrial development of the country. The tax system has been reformed by the Ministry to make payment of taxes easier and has also increased the use of techniques.
About Central Board of Indirect Taxes and Customs
- The Central Board of Indirect Taxes and Customs is formerly known as the Central Board of Excise and Customs.
- The Customs and Central Excise/ Central GST department was established to administer customs laws.
- Now the department is under the Department of Revenue, Ministry of Finance which deals with the policy formulation concerning levy and collection of Customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods & Services Tax, IGST and Narcotics to the extent under CIBC’s purview.
- The Board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerates and the Central Revenues Control Laboratory.
Source: India Today
