- In India, every year 24th February is Central Excise Day. Central Excise Day is celebrated across the country to venerate the Central Excise and Salt Act. The occasion provides a scope to recognize and honor the services provided by the Central Board of Indirect Taxes and Customs (CBIC).
- The celebration on 24th February motivates the officers and staff of the excise department to carry forth their duties and responsibilities efficiently. It is essential to uplift the morale of the staff as they fight against immorality and corruption in the manufacturing segment, the backbone of the economy.
- The Central Excise Department plays a significant role in striking industrial development in the country. The particular date – 24th February is important as in 1944, the Central Excise and Salt Act were enunciated. So the date bears the legacy of the historic legislation by celebrating the Central Excise Day each year on 24th February.
24th February is the Central Excise Day
Background of Central Excise Department
- Central excise is the responsibility of the Central Board of Excise and Customs (CBEC). The department is now the Central Board of Indirect Taxes and Customs (CBIC). It is under the direct supervision of the Central GST Department which is affiliated with the Department of Revenue of the Finance Ministry.
- The Central Excise Department strategizes policies regarding levies and the collection of various taxes. Different kinds of taxes like Customs, Central Goods and Services Tax (CGST), IGST, Central Excise, preventing smuggling and Narcotics cases. CBIC has its headquarter in New Delhi, the administrative capital of India.
- The Board has subordinate bodies like the Central Excise and Central GST Commissionerates, Custom Houses, and the Central Revenues Control Laboratory.
Central Excise Day is an annual event
Significance of the Central Excise Day
- Central Excise is a significant benchmark in the Indian economy instrumental for the financial development of the country. The efficiency of the central excise department has led to the extraction of adequate revenues to facilitate developmental activities in the country.
- So the Government of India has decided to commemorate the efforts of the central excise staff by marking 24th February as the Central Excise Day. The celebration of Central Excise Day indicates an adequate collection of taxes on goods and services from those who are earning over the limits.
- The Central Excise Act 1944 forms the foundation of the system and is modified as per the Excise Tariff Act 1985.
Significance of the Central Excise Day
- The latter is instrumental in setting forth the tax payable rates as per Schedule I and II. The taxes are collected on the manufactured goods across the country by the Central Excise Department. The taxes collected are used to develop the country’s infrastructure such as establishing educational institutions and healthcare facilities.
- The celebration of Central Excise Day on 24th February is a constant reminder of the efforts of the people whose hard work is making the country a better place to live in. The sorts of taxation and legislation help to prevent smuggling and corruption in the country.
- Through such a celebration, the government is recognizing the people who are working effortlessly to stop negative business implications across the country. The whole-hearted celebration of 24th February strives to facilitate equality among the officers of the Central Excise Department.
- It motivates them to put in their effort and dedication to deliver a much better outcome in terms of effective tax observance.
Celebration of the Central Excise Day
- The Central Excise Day on 24th February is celebrated amidst glory to make the day special for each of the departmental staff. There are sorts of cultural programs, awareness campaigns, seminars, and theme-oriented activities across the country to mark the day special.
- The Indian Government confers honors and recognition to the deserving staff to carry on their good work and loyalty to the nation.
- The Central Excise Day every year is a memorable day for the staff at the Central excise Department and their families. 24th February establishes the soul of the staff to deliver a more efficient performance.
The bottom line of the Central Excise Day on 24th February
- The celebration on 24th February as the Central Excise Day is a reminder of how the staff at the Central Excise Department dedicate themselves to building a strong nation. They strive to collect suitable taxes levied on goods and services and prevent corruption and various business malpractices.
- So every year the nation salutes the brave souls of the Central Excise Department by upholding their efforts and contribution to the nation.
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