Central Excise Day 2025: Key Details, Theme, and Importance
Central Excise Day is observed annually on February 24 to mark the establishment of the Central Excise and Salt Act, 1944. This day acknowledges the contributions of the Central Board of Indirect Taxes and Customs (CBIC) and its officers in ensuring efficient tax administration, curbing corruption, and facilitating India’s economic growth. It highlights the importance of excise duty as a major source of government revenue, which funds essential public welfare programs like education and healthcare.
Over time, the Central Board of Excise and Customs (CBEC) was renamed Central Board of Indirect Taxes and Customs (CBIC) to reflect its expanded role, including,
The event generally revolves around,
Even after the introduction of GST, central excise duties remain applicable on select goods like,
These levies generate substantial government revenue, contributing to,
The day serves as a reminder of excise duty’s role in maintaining economic stability and national development.
Summary/Static | Details |
Why in the news? | Central Excise Day 2025: Key Details, Theme, and Importance |
Established By | Central Excise and Salt Act, 1944 |
Organizing Body | Central Board of Indirect Taxes and Customs (CBIC) |
Significance | Recognizes excise officers’ contributions to tax enforcement and economic growth |
Theme (2025) | Yet to be announced (focuses on tax compliance & economic growth) |
Key Activities | Seminars, award ceremonies, awareness campaigns |
Impact | Supports public welfare through excise duty collection on select goods |
The full form of FORTRAN is Formula Translation. It is the first high-level programming language,…
India has many historical forts that tell stories of bravery and power. These forts were…
Unified Payments Interface (UPI) transactions surged to a record high in March 2025, reaching Rs…
India's Goods and Services Tax (GST) collections witnessed a strong growth of 9.9% year-on-year (YoY)…
The Reserve Bank of India (RBI) marks its 90th anniversary in 2025, commemorating nine decades…
Nidhi Tiwari is a renowned Indian Foreign Service (IFS) officer who has made significant contributions…