Central Excise Day 2023
Every year on February 24, Central Excise Day is observed to recognise and honour the contributions made by the Central Board of Indirect Taxes and Customs (CBIC). Every year, Central Excise Day is observed to raise public awareness of the dedication and labor-intensiveness of CBIC. The primary responsibility of CBIC is to prevent the tampering of manufactured items.
The agency hosts a number of programmes and events on Central Excise Day to raise public awareness of the value of paying taxes and abiding by customs procedures. On this day, CBIC also launches brand-new campaigns with a variety of topics across its offices all over India to raise awareness of the rules governing Central Excise and Customs.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Purpose of Central Excise Day
The purpose of Central Excise Day is to honour the commitment and hard work of the employees who fight to collect taxes, stop smuggling, and stop fraud. The day also draws attention to the part the department plays in fostering economic development. Every year, the day is observed throughout the nation to motivate excise department employees to carry out their tasks effectively across India in order to prevent corruption in the goods manufacturing sector and to ensure that other regulations are put into place to ensure the best excise services are offered.
History of Central Excise Day
From the starting of the civilisations, salt has been an important commodity. Salt was considered to be one of the sources of revenue by the native governments in India in various forms, such as excise duties, transit tax and much more. There was generally no uniformity in the matter of administrative control for the collection of salt revenue.
The Central Excise and Salt Act was passed on February 24, 1944, to make changes in the law related to salt and Central duties. In total, it was a combination of 11 Acts concerning the excise duties. In 1985, a Central Excise Tariff Act was introduced and it became a part of the old Central Excises and Salt Act. With effect from September 28, 1996, the Act was known as the Central Excise Act 1944.
About CBIC:
Central Board of Indirect Taxes and Customs (CBIC) is a branch of the Department of Revenue which lies under the Ministry of Finance, Government of India. Work done by it is the calculations of policy related levy and collection of Customs, Central Excise duties, CGST and IGST, prevention of smuggling and administration of matters relating the above mentioned subjects, and Narcotics to the extent under CBIC’s purview.
The subordinate organisations of the Board are the administrative authority and consists of Custom Houses, Central Excise and Central GST Commissionerate, and the Central Revenues Control Laboratory.
Important takeaways for all competitive exams:
- CBIC Chairman: Vivek Johri;
- CBIC Headquarters: New Delhi;
- CBIC Founded: 1 January 1964.
You may also read this:
ODI World Cup winners full list (1975-20...
Which Country is Known as "Land of Long ...
Top-10 Countries with Most Nobel Prize W...
