IRS officer Sanjay Kumar Agarwal has taken charge as the Chairman of the Central Board of Indirect Taxes and Customs (CBIC). Agarwal succeeds Vivek Johri who superannuated as CBIC chief on May 31. In an order issued on August 5, the finance ministry had appointed Agarwal, who was holding charge of CBIC member compliance management, looking into investigations.
The CBIC, which deals with policy making in indirect taxes — GST, customs, excise — is headed by a chairman and has six members in the board. The board is assisted by principal chief commissioners/chief commissioners and principal director generals/ director generals.
The Central Board of Indirect Taxes and Customs (CBIC) is a statutory body under the Ministry of Finance, Government of India. It is responsible for the administration of indirect taxes in India, which include customs, central excise, service tax, and goods and services tax (GST). The CBIC also has the responsibility of preventing tax evasion and smuggling.
Here are some of the key functions of the CBIC:
The CBIC is a dynamic organization that is constantly evolving. It is committed to providing efficient and effective administration of indirect taxes in India. The CBIC is also committed to preventing tax evasion and smuggling. The CBIC plays a vital role in the economic development of India.
Important takeaways for all competitive exams:
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