Question: Central Board of Excise & Customs (CBEC) is being renamed as…
(a) Central Board of Indirect Taxes & Customs (CBIC)
(b) GST Implementation wing
(c) Indirect Taxes and Customs Board of India
(d) None of the above.
Ans: (a)
- On 25th March, 201, Union Finance Minister, Shri Arun Jaitley approved re-organisation of the field formations of the Central Board of Excise & Customs (CBEC).
- Changes are being incorporated with a view to the implementation of Goods & Services Tax (GST).
- The existing formations of Central Excise & Service Tax under the CBEC have been re-organised to implement and enforce the provisions of the proposed Goods & Services Tax Laws.
- The Central Board of Excise & Customs (CBEC) is being renamed as the Central Board of Indirect Taxes & Customs (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.
- The CBIC will have 21 Zones, 101 GST Tax payer Services Commissionerates comprising 15 sub-Commissionerates, 768 Divisions, 3969 Ranges, 49 Audit Commissionerates and 50 Appeals Commissionerates.
- This will ensure rendering of taxpayer services to all the taxpayers through an indirect tax administration structure, having pan-India presence
- The existing training establishment, to be renamed as National Academy of Customs, Indirect Taxes and Narcotics will have an all India presence, to enable capacity building.
- The renamed Directorate General of Goods & Service Tax Intelligence is also being strengthened and expanded to contribute in fight against Tax Evasion and Black Money.
Reference:
http://indiatoday.intoday.in/story/cbec-to-be-renamed-cbic-under-gst-regime/1/912591.html
http://pib.nic.in/newsite/PrintRelease.aspx?relid=159936
Good content sir