Government to rename Central Board of Excise and Customs before rolling out GST
The Central Board of Indirect Taxes & Customs will help the Centre to frame rules related to the single tax regime.
The Centre has decided to rename the Central Board of Excise and Customs as Central Board of Indirect Taxes & Customs before it rolls out the Goods and Service Tax from July 1. The renaming will be done “after getting legislative approval,” said the Finance Ministry, according to PTI.
Apart from its regular task of levying central excise and customs duties, this apex policy making body for indirect taxes will also help the government in framing rules related to the GST. Besides, the body will be restructured. “Finance Minister Arun Jaitley has approved the reorganisation of the field formations of the CBEC for the implementation of GST,” read a statement issued by the ministry.
The CBIC will have 21 zones, 101 GST Tax payer Services Commissionerates, 15 sub-commissionerates, 768 Divisions, 3,969 Ranges, 49 Audit Commissionerates and 50 Appeals Commissionerates. Besides, the government is also expanding and strengthening the Directorate General Tax Payer Services for the smooth transition for the taxpayers to the GST regime.
On March 20, the Union Cabinet had approved four supplementary GST Bills to implement the tax reform from July. The GST got President Pranab Mukherjee’s approval on September 8, 2016, after being ratified by 16 states. It was passed by the Rajya Sabha on August 3. It seeks to replace India’s complicated tax regime comprising 17 different charges with a single levy.