Central Excise Day 2023: 24 February

Central Excise Day 2023: 24 February

Daily Current Affairs   /   Central Excise Day 2023: 24 February

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Category : Important Days Published on: February 25 2023

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  • The Central Excise Day is observed every year on February 24 to commemorate the Central Excise and Salt Act and honour the contributions of the Central Board of Indirect Taxes and Customs (CBIC). 
  • The annual event recognises the role played by the Central Excise Department in the development of the country.
  • The CBIC, earlier known as the Central Board of Excise and Customs, was established to help the government formulate and implement laws and policies related to customs duties in a more efficient manner.
  • The Central Excise Day is celebrated to commemorate the legislation of Central Excise and Salt Act, which was passed on February 24, 1944.
  • In 1966, the act was renamed as The Central Excise Act 1944 and the Schedule 1 and 2 of the act was related to the values and rates of the duties.
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