Current Affairs - Important Days - Discussion

Central Excise Day is observed every year on February 24 to mark the enactment of the Central Excise and Salt Act, 1944, later known as the Central Excise Act, 1944. The day recognises the contributions of the Central Board of Indirect Taxes and Customs (CBIC) in administering indirect taxes, including customs and excise duties. It highlights the importance of revenue collection, prevention of smuggling, and tax reforms in strengthening India’s financial system. Even in the GST era, excise duty continues to apply to specific goods such as petroleum and tobacco, maintaining its relevance in the country’s taxation framework.