CURRENT AFFAIRS

Detailed explanation-1: -Central Excise Day is celebrated on 24th February every year to honour the efforts of the Central Board of Indirect Taxes and Customs (CBIC). This day is about acknowledging the work of the CBEC members and motivating them to perform their duties with greater efficiency.

Detailed explanation-2: -Central Excise Day 2022: Significance The jobs of the members of the Central Board of Indirect Taxes and Customs in preventing corruption among the manufacturing industries are worth appreciation and encouragement.

Detailed explanation-3: -Central Excise Day of India is celebrated every year on February 24.

Detailed explanation-4: -(a)a duty of excise to be called the Central Value Added Tax (CENVAT)] on all excisable goods (excluding goods produced or manufactured in special economic zones) which are produced or manufactured in India as, and at the rates, set forth in the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986);