Last Updated: February 23, 2023, 18:21 IST
The Central Excise Day is also observed to commemorate the Central Excise Act, which was passed on February 24, 1944. (Representative image: Shutterstock)
Central Excise Day is observed to recognise the hard work and dedication of the officials who work to collect taxes, prevent smuggling, and curb fraudulent activities
CENTRAL EXCISE DAY 2023: The Central Excise Day is celebrated in India every year on February 24 to commemorate the establishment of the Central Board of Excise and Customs (CBEC). The day is observed to recognise the efforts of the Central Excise and Customs officials who work tirelessly to safeguard the country’s economy. The Central Excise Day is also observed to commemorate the Central Excise Act, which was passed on February 24, 1944.
The Central Excise and Customs Department is responsible for collecting indirect taxes on goods and services in India and also the imported goods. It also ensures that these taxes are paid on time and that all imports and exports comply with the regulations and laws enacted by the government.
The department plays a significant role in maintaining the economic stability of the country. The day further serves as a reminder of the critical role that the department plays in supporting the country’s economy and promoting fair trade practices.
Central Excise Day: History
The Central Excise and Salt Act was passed on February 24, 1944, to make changes in the law related to salt and Central duties. In total, it was a combination of 11 Acts concerning the excise duties. In 1985, a Central Excise Tariff Act was introduced and it became a part of the old Central Excises and Salt Act. With effect from September 28, 1996, the Act was known as the Central Excise Act 1944.
Central Excise Day: Significance
The significance of Central Excise Day lies in recognising the hard work and dedication of the officials who work to collect taxes, prevent smuggling, and curb 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 administering Customs, Goods, and Service 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 organised by the department to create awareness among the public about the importance of paying taxes and complying with customs regulations. CBIC also launches new campaigns on various themes on this day through its offices across India to create awareness about the regulations around Central Excise and Customs.
