Central Excise Day 2023 of India celebrated every year on February 24th. The primary purpose of this day is to encourage all the employees working in the excise department to carry out their duties in a much more effective manner and acknowledge all the hard work they put into position for the country’s development.
The primary purpose of central excise day 2023 in India is also to prevent corruption, especially in the goods manufacturing business, and to introduce and implement rules so that the best possible excise services are done. The first central excise and salt act was enacted in 1944 on February 24th.
Role of Central Excise Department:
Central Excise Department plays a significant role in the industrial development of a country. There also some changes in the tax system made by the Ministry so that the payment of taxes becomes easier. Central Excise Day celebrated every year so that the country’s people know the importance of the Central Board of Excise and Customs.
We can also see that in order to fulfil its purpose throughout the country, many programs conducted like workshops, conferences, seminars, award ceremonies, cultural and educational programs, competitions, etc.; many colleges encouraged to perform this kind of activity in the college.
Role of Central Board of Indirect Taxes and Customs
Central Excise Day celebrated annually on February 24th to commemorate the establishment of CBIC in 1944, then known as Central Board of Excise and Customs (CBEC). As a government organization under the Department of Revenue’s Ministry of Finance, its role within society discussed here –
- CBIC’s primary mission is to prevent corruption in the goods manufacturing sector.
- Additionally, they aim to enforce central excise laws related to business operations to the fullest extent possible.
- Central Excise Day is an annual celebration in India to commemorate this organization.
- Central Goods & Services Tax and IGST, prevention of smuggling, and administration of matters about Customs, Central Excise, Central Goods & Services Tax, IGST, and Narcotics to the extent under CBIC’s purview.
History of Central Excise
The history of Central Excise dates back to 1944 when the Government passed the Central Excise and Salt Act. Salt an essential source of revenue for the Government back then, and this tax collected in the form of excise duty, transit tax, and some similar taxes. Before introducing this Act, every state has its way of administration and tax collection.
This particular Act has consolidated and streamlined the laws of Central Excise by making the revenue collection process more efficient and smoother. That is why Central Excise Day 2023 marks this Act as an important and efficient one.
About Central Board of Indirect Taxes and Customs
- CBIC is an organ of India’s Ministry of Finance, and its Board is responsible for administering administrative matters. Here are some more facts about the CBIC:
- Comprised of the Central Revenues Control Laboratory, Central GST Commissionerate, Central Excise, and Custom Houses, this Board assists the Government in formulating and enforcing laws related to customs more effectively.
- CBIC ensures the timely collection of indirect taxes like GST (Goods and Services Tax), Custom Duties, Service Tax, and other levies.
- International travellers strictly forbidden from bringing banned products into India, such as flat-panel televisions, firearms, or other prohibited items.