Last Update: February 23, 2023, 18:21 IST
Central Excise Day is also celebrated to commemorate the Central Excise Act, which was passed on February 24, 1944. (Representational Image: Shutterstock)
Central Excise Day is celebrated to recognize the hard work and dedication of the officers who work to collect taxes, prevent smuggling and prevent fraudulent activities.
Central Excise Day 2023: Central Excise Day is observed India Every year on 24 February to commemorate the establishment of the Central Board of Excise and Customs (CBEC). The day is celebrated to recognize the efforts of Central Excise and Customs officials who work tirelessly to safeguard the country’s economy. Central Excise Day is also celebrated to commemorate the Central Excise Act passed on February 24, 1944.
The Central Excise and Customs Department is responsible for collecting indirect taxes on goods and services in India and on imported goods. It also ensures that these taxes are paid on time and that all imports and exports follow the rules and regulations made by the government.
The department plays an important role in maintaining the economic stability of the country. The day further serves as a reminder of the important role that the department plays in supporting the country’s economy and promoting fair business practices.
Central Excise Day: History
The Central Excise and Salt Act was passed on February 24, 1944 to make changes in the law relating to salt and central duties. In all, it was a combination of 11 Acts relating to excise duty. In 1985, a Central Excise Act was introduced and it became a part of the old Central Excise and Salt Act. This Act was known as the Central Excise Act 1944 with effect from 28th September, 1996.
Central Excise Day: Significance
The significance of Central Excise Day lies in recognizing the hard work and dedication of the officers who work to collect taxes, prevent smuggling and prevent fraudulent activities. The day also highlights the role that the department plays in promoting economic growth and development.
The Central Board of Indirect Taxes and Customs (CBIC) is responsible for the administration of Customs, Goods and Services Tax (GST), Narcotics, Central Excise and Service Tax in India.
How is Central Excise Day celebrated?
On Central Excise Day, several programs and events are organized by the department to create awareness among the public about the importance of paying taxes and complying with customs rules. CBIC also launches new campaigns on various topics through its offices across India on this day to create awareness about the rules of Central Excise and Customs.
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