Update on 01.04.2018
With the enactment of the Finance Act, 2018, CBEC is renamed as the Central Board of Indirect Taxes and Customs (CBIC). The change was necessitated due to enactment of the Goods and Services Tax (GST) which has consolidated the multiple Indirect Taxes into one tax.
Relevant Part of Finance Act, 2018 as assented by Hon’ble President of India
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Press Information Bureau
Government of India
Ministry of Finance
01-February-2018 13:17 IST
Central board of excise and customs [CBEC] to be renamed central board of indirect taxes and customs (CBIC).
With the roll out of GST, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2018-19 in Parliament today, announced that the name of Central Board of Excise and Customs [CBEC] will be changed to Central Board of Indirect Taxes and Customs (CBIC). The necessary changes in law for this are proposed in the Finance Bill, Shri Jaitley added.
(Republished with amendments)
