Central Excise Day is celebrated every year on 24 February to honor and appreciate the efforts, services, and contribution of the Central Board of Indirect Taxes and Customs (CBIC).
Central Excise Day is dedicated to commemorate the Central Excise and Salt Act which was established on 24th February 1944. On this day, CBIC officers are being admired for their sincere duties.
Central Excise Day is celebrated annually to aware people about the hard work and commitment of CBIC. The main function of CBIC is to keep a check on the corruption of goods from the manufacturing industries.
The CBIC officers play a critical role in the country's industrial development. Every Indian citizen must pay taxes to contribute in the country's economic progress.
Let us read about the date, theme, history, and significance of Central Excise Day 2023.
When Is Central Excise Day 2023
The Central Excise Day 2023 will be celebrated today on Friday, 24 February 2023.
What Is the Theme of Central Excise Day 2023
The theme of Central Excise Day 2023 has not been officially announced yet.
History and Significance of Central Excise Day 2023
The Central Excise day is celebrated to commemorate the legislation of Central Excise and Salt Act that was enacted on 24 February 1944. The law was passed to make amendments in the salt and central duties. It included 1 acts related to the excise duties.
In the year 1966, the Central Excise and Salt Act was renamed as "The Central Excise Act 1944". The values and rates of the excise duties were included in the Schedule 1 and 2 of the act.
Initially, the excise tax duty was levied on 67 items only. Later, a 68th item was included in the list and that was the terror items - "all other goods not elsewhere specified".
The Central Excise Act 1944 was amended in 1985 and that led to the introduction of a new act called "Central Excise Tariff Act".
The significance of Central Excise Day is to raise awareness among the general public about the contribution of central excise officers in the economic development of the country.
The Central Board of Indirect Taxes is a part of the Department of Revenue under the Ministry of Finance, Government of India. It plays a critical role in the formulation of laws and policies regarding the Customs, Central Goods & Services Tax, Central Excise duties, IGST, prevention of smuggling, and more.
The Central Excise Day is celebrated in India to highlight the great roles and responsibilities of Central Excise officers. Educational events, seminars, workshops, training sessions, and award functions are being held to spread the word.
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