24th February: Central Excise Day

The Central Board of Excise and Customs (CBEC) on 24 February 2017 celebrated the Central Excise Day across the country. To mark the occasion, the Central Excise officers all over the country organized seminars, workshops, trade interactions, and cultural events. Why Central Excise Day is celebrated?

• In particular, the Central Board of Excise and Customs(CBEC) comes under the Department of Revenue managed by the Ministry of Finance, Government of India.
• Chiefly, the Central Excise Day celebrated in India to promote equality among the officers of the CBEC Department. Also to assist them to ensure better tax observance.
• Also to commemorate the establishment of the Central Excise and Salt Act, 1944 on the 24th of February.
• According to the Central Excise Act 1944, the event celebration means to collect tax over the goods and by the people earning over the limit.
• Based on the Central Excise Tariff Act 1985, the tax payable rate set under Schedule I and II.