Every year, Central Excise Day is observed on February 24. The day recognizes the Central Excise and Salt Act which came into force on 24th February 1944. This day is aimed to highlight the significant role played by the Central Excise Department in the industrial development of the country.
History of the Day
The Union Government levied central excise duties on commodities or products that are manufactured or produced within the country, as against the State excise duties which are levied on alcoholic drinks, opium, etc. Central Excise Tariff Act, 1985, which came into effect in 1986, enlists the commodities on which central excise duties are levied.
In 1944, the Indian government adjusted the Indian tax system to make payment of taxes quicker and easier. The department also abrogated all the acts passed earlier which were related to production or transportation of salt like Bombay Salt Act, 1890, Madras Salt Act, 1884 and Indian Salt Act, 1882.
Significance of the Day
Central Excise Day honors the contributions made by the Central Board of Indirect Taxes and Customs (CBIC) to the country. On this day, CBIC employees are encouraged to carry out their sincere duties and responsibilities to check the corruption of goods from the manufacturing sector.
The day is observed to acknowledge the importance of the CBIC in the industrial development of the country. The board organizes many programs including seminars, workshops, awareness programmes, educational and cultural programmes, competitions and award ceremonies.