Central Excise Day in India / February 24, 2024

CENTRAL EXCISE DAY IN INDIA 2024:- Central Excise Day is celebrated in 2024 on the 24^th of February, commemorated every year all across India on the 24^th of February to encourage the employees of the excise department to carry out the central excise duty all over India in a better way to prevent corruption in goods manufacturing business as well as implement other rules to carry out best possible excise services.

Central excise has become a vital source of the financial development of the country for better socio-economic development in India. The country’s financial revenue has doubled by improving the service delivery standards of the central excise departments.

Revenue collected by the central excise department is used for educational and health programs, as well as other social programs.

Central excise supports a lot to improve the Indian economy by eliminating 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

The purpose of the event celebration is to collect taxes on goods and people earning above the limit set by the Central Excise Act in 1944.

The Central Excise law primarily regulates manufacturing goods, which are administered through various field offices (i.e. Central Excise Commissionerates) throughout the country by the Central Board of Excise and Customs (CBEC). The Central Excise Tariff Act of 1985 has set the tax payable rate under Schedules I and II.

Developed by the Central Board of Excise and Customs, this department makes and implements policies related to taxes payable by citizens and collected by them. In order to accomplish this better, the Central Excise and Customs Departments have been established to prevent negative business practices, and smuggling, as well as to manage all aspects of central excise, customs, and narcotics in India effectively.

Read More:- National Deworming Day

India is divided into 10 zones, which are each headed by a Commissioner of Central Excise. There are almost 61 Commissionerates that are headed by the Commissioner of Central Excise in each zone.

The following two types of 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

A 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 approved purpose.

Self Removal Process

To manage the central excise duty for all other goods being manufactured throughout India, a self-removal process has been implemented. In this process, all legal responsibilities are self-accessed by the manufacturers.

IMPORTANCE OF CELEBRATING THE CENTRAL EXCISE DAY

Central Board of Excise promote equality among its officers and supports their efforts to improve compliance with tax laws. As part of the celebration, the Central Excise and Salt Act were established on February 24, 1944.

HOW CENTRAL EXCISE DAY IS CELEBRATED

On Central Excise Day, various Indian states organize theme-based programs, cultural events, workshops, awareness programs, competitions, and seminars.

The day is observed as an award ceremony honoring those who have served the government with honesty and integrity.

Through this event celebration, a variety of other activities are planned to implement the celebration.

What are the Duties of the Central Excise Department

The excise tax is a tax imposed on goods manufactured in a country. Excise duties are carried out by the Central Excise Departments in India to collect the tax payable over each and every good manufactured in the country including tobacco and excluding Alcohol and Opium.

State Excise Department collects taxes related to Alcohol and Opium.

How to Get Registered with the Excise Department

It is mandatory for those who produce or manufacture excisable goods in the country to register with the excise department.

Those required to register are manufacturers, curers, producers, brokers, commission agents, showroom and warehouse owners, dealers, importers, etc.

Read More:- World Cancer Day

In order to register, individuals must submit an application to the Range Superintendent and complete form R-1. According to the Central Excise Tariff Act of 1985, persons who manufacture excisable goods must follow these guidelines:

• The goods manufactured by them should be movable.
• The goods produced by them should be marketable and produced by the manufacturing process.
• The Central Excise Tariff Act, of 1985, should declare the goods they manufacture.

Read More