Getting to know the Central Board of Excise and Customs
Central board of excise and customs (CBEC) is a part of the revenue department under of the Ministry of Finance, run by the Government of India
. Central Excise duty is an indirect tax levied on goods manufactured in India and these taxes are collected by CBEC.
CBEC India has set up offices in all the five different zones of the country for efficient management of goods imported and exported. It deals with various tasks:
Facilitate the movement of goods out of the country
Collection of custom and central excise duties.
Prevention of smuggling
Prevention of narcotics.
The approach of CBEC is a standard of two measures:
Operation of Convention.
Adoption of best practices and reorganization of central excise and customs .
Central board of excise and custom monitors traded goods through receipts of payment, analysis of declarations and returns filed. There are some benefits which CBEC provides in indirect administration of tax like:
Increased efficiency.
More accountability.
More transparency.
In India,
Central Board of excise and customs is a major body governing import and exports, enforcing custom tariffs, anti dumping duty and safeguard duty.
It sends custom duty notification to the traders for every year which can also be received online. It also ensures quick response to grievances, or complaints of traders to decrease the load and to provide full guidance. CBEC attempts to reply to the complaints of the trader's within 30 days of time.
Some of the benefits of CBEC in aiming at maintenance of good standards are:
Quick response.
Close monitoring.
Standardization of the process.
Transparency in transactions.
The Mission of CBEC is to realize revenues in an efficient manner, achieve excellence in formulation and implementation in customs and central excise, evasion of frauds and social menace in an effective manner and facilitating trade by helping Indian businesses enhance their competitiveness.
Rules of CBEC in India are as follows:
Settlement of disputes in 10 days.
Refunding of amount in any discrepancies within 30 working days of receiving a valid claim.
Any delay in decision making on any disputed issue, shall promptly communicate with a valid reason.
Complete excise registration within 48 hours of receiving applications.
In case of exports, within 8 hours of filing an electronic declaration or within 24 hours of filing a paper declaration.
In case of imports, within 24 hours of filing an electronic declaration or within 72 hours of filing a paper declaration.
There are some advantages under
CBEC for advance ruling:
Clarity and certainty of tax liability under customs,
central excise or service tax laws.
Avoidance of protected litigations.
Speedy decisions.
Inexpensive process.
Transparency.
Getting to know the Central Board of Excise and Customs
By: Jayden William
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