Central Board of Excise and Customs to be renamed
|Source: The Hitavada Date: 26 Mar 2017 09:05:41|
THE Central Board of Excise and Customs (CBEC) will be reorganised for the implementation of the Goods and Services Tax (GST) system and renamed the Central Board of Indirect Taxes and Customs (CBIC) following parliamentary approval.
“Reorganisation of the field formations of CBEC for the GST implementation has been approved by Finance Minister Arun Jaitley. The existing formations of Central Excise and Service Tax under the CBEC have been reorganised to implement and enforce the provisions of the proposed GST laws,” a Finance Ministry statement said on Saturday.
“The CBEC is being renamed as the CBIC, after getting legislative approval. The proposed CBIC shall, inter alia, supervise the work of all its field formations and directorates and assist the Government in policy making in relation to the GST, continuing central excise levy and customs functions,” the statement said. The CBIC will administer both the GST as well as excise as few products like petrol and diesel will attract excise duty. It will have 21 zones, 101 GST taxpayer services commissionerates comprising 15 sub-commissionerates, 768 divisions, 3,969 ranges, 49 audit commissionerates and 50 appeals commissionerates, it added. “This will ensure rendering of taxpayer services to all the taxpayers through an indirect tax administration structure, having pan-India presence,” the statement said.