Central Excise Day in India
Central Excise Day is commemorated every year all across the India on 24th
of February to encourage the employees of excise department to carry
out the central excise duty all over the India in better way in order to
prevent the corruption in goods manufacturing business as well as
implement other rules to carry out best possible excise services.
Central excise has become the vital source of the financial
development of the country for the better socio-economic development in
India. In the back years, the financial revenue of the country has
become double through the better service delivery standards of the
central excise departments.
The revenue collection through the central excise department is used
in the following schemes such as education, health including other
schemes of the social sector. Central excise supports a lot to improve
the Indian economy for eliminating the poverty and illiteracy, offering better education and health services and etc to make the country a healthy and developed country.
Why Central Excise Day is Celebrated
A day, 24th of February, has been decided by the
government of India to celebrate this special event all through the
country. The event celebration means to collect tax over the goods and
by the people earning over the limit which has been decided according to
the terms of Central Excise Act in the year 1944. The tax payable rate
has been set under Schedule I and II according to the Central Excise
Tariff Act in the year 1985.
According to the Central Excise law, the payable event is mainly over
the manufactured goods, which has been managed by the Central Board of
Excise and Customs (CBEC) through various field offices (means Central
Excise Commissionerates) all over the country. Central Board of Excise
and Customs fall under the Department of Revenue managed by the Ministry
of Finance, Government of India.
The department of Central Board of Excise and Customs has been
established in order to make and implement policies related to the tax
payable and its collection by the people all through the country. To do
this in better way, Customs and Central Excise duties has been
implemented to prevent negative business ways means smuggling as well as
to manage all the issues related to the central excise, customs and
narcotics in India to a great level. To handle and manage all the
matters in the country, whole India has been divided in 10 zones and
each of the zones is headed by the Chief Commissioner of Central Excise.
Almost 61 Commissionerates is headed by the Commissioner of Central
Excise in all the Zones.
Following two types of the processes are carried out by the Central
Excise department in order to put into effect all the laws and
collections of the central excise:
Physical Control Process
Physical control process has been implemented in order to manage the
central excise duty for cigarettes only. Through this process, first of
all an evaluation is done under the custody of Central Excise officers
for the approval purpose.
Self Removal Process
Self removal process has been implemented in order to manage the
central excise duty for all other goods getting manufactured all through
the India. In this process, all the legal responsibilities on the goods
are self accessed by the manufacturers in order to clear the goods.
Importance of Celebrating the Central Excise Day
Central excise day in India is celebrated every year on 24th
of February to encourage the equality among the officers of the Central
Board of Excise and Customs Department as well as assist them to ensure
better tax observance. It is also celebrated to commemorate the
establishment of the Central Excise and Salt Act on 24th of February in the year 1944.
