Central Excise Day 2020: Know Date, Importance and Significance Here
Central Excise Day 2020: On 24th February every year, the Central Board of Excise and Customs (CBEC) celebrates the Central Excise Day across the country. Know all the important aspects, including its date, background, importance and significance here.
Central Excise Day 2020: On 24th February every year, the Central Board of Excise and Customs (CBEC) celebrates the Central Excise Day across the country. The day aims to honour the contribution of the Central Board of Excise and Custom to India's economy. Additionally, the Central Excise Board being a primary tax collection agency for the Central Government, the day also recognizes and acknowledges the hard work put in by the officers of CBCE and encourages them to carry out their duty with utmost sincerity. Furthermore, the day is also observed to check corruption in goods manufacturing business as well as implement other rules to carry out the best possible excise services.
Activities Planned on Central Excise Day
To mark the occasions, the Central Board of Excise and Customs conducts a host of activities across the country including seminars, workshops, educational and cultural events, awareness programs, competitions, and award ceremonies. Additionally, the board also holds a series of awareness programmes to help general public understand the roles and responsibilities of CBCE and its officers.
The Central Excise Day is celebrated every year to commemorate the Central Excise and Salt Act, which was enacted on 24 February 1944.
About Central Board of Excise and Customs
- Central Board of Excise and Customs (CBEC) is a part of the Department of Revenue under the Union Ministry of Finance.
- The CBEC deals with policy formulation concerning levy and collection of Customs and central excise duties and service tax.
- The Board also deals with matters related to smuggling and administration of matters relating to Customs, central excise, service tax and narcotics to the extent under the CBEC's purview.
- The Board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Service Tax Commissionerates and the Central Revenues Control Laboratory.
- The board primarily deals with the Customs Act, 1962, Customs Tarriff Act, 1975, Central Excise Act, 1944 and Service Tax Act.
- However, after the rollout of the Goods and Services Tax (GST) from 1 July 2017, the activities of the board will be guided by the GST-related Acts.