Full Form of CBIC, Central Board of Indirect Taxes and Customs

The full form of CBIC is CBIC stands for Central Board of Indirect Taxes and Customs. It is an organization that functions under the Indian Government's Ministry of Finance.

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The management of indirect taxes including central excise, GST, service tax, customs, and others in India is the responsibility of the Central Board of Indirect Taxes and Customs (CBIC), formerly known as the Central Board of Excise and Customs (CBEC).

The Central Board of Indirect Taxes and Customs (CBIC) is also charged with creating guidelines for the imposition and collection of Central Excise Duties, Customs, IGST, Central Goods and Services Tax (CGST), and the prevention of smuggling. Learn more about the CBIC’s goals and operations in the article that follows to aid in your UPSC test preparation.

CBIC stands for Central Board of Indirect Taxes and Customs. It is an organization that functions under the Indian Government’s Ministry of Finance. The CBIC is responsible for administering the indirect tax laws in India, including the Goods and Services Tax (GST), Central Excise, and Service Tax.

History of CBIC

The CBIC was formed in 2017, following the implementation of the GST in India. Its main objective is to ensure the smooth functioning of the indirect tax system in the country, by implementing policies and procedures that are in line with the GST laws. The CBIC’s role includes assessing and collecting taxes, enforcing compliance, and providing support and guidance to taxpayers.

The CBIC is headed by a Chairman, who is appointed by the Indian Government. The organization is divided into various divisions and zones, each headed by a Chief Commissioner or Director General. The CBIC also has a GST intelligence wing, which is responsible for detecting and preventing tax evasion.

One of the main functions of the CBIC is to assess and collect taxes. This includes processing and approving tax returns, collecting tax payments, and conducting audits to ensure compliance with GST laws. The CBIC also has the authority to impose penalties and fines for non-compliance.

Role of CBIC

The CBIC also plays a crucial role in enforcing compliance with GST laws. This includes conducting investigations, inspections, and raids to detect and prevent tax evasion. The CBIC also has the power to arrest and prosecute individuals who are found to be in violation of GST laws.

In addition to enforcing compliance, the CBIC also provides support and guidance to taxpayers. This includes providing information on GST laws and procedures, and answering queries and concerns of taxpayers. The CBIC also conducts awareness campaigns and training programs to educate taxpayers on GST laws and compliance.

The CBIC also maintains a GST portal, which is a digital platform for taxpayers to file GST returns and make tax payments. The portal also provides information on GST laws and procedures, and allows taxpayers to track their tax returns.

Key Facts of CBIC

The Central Board of Indirect Taxes and Customs has the following salient characteristics (CBIC).

• Previously known as the CBEC, the CBIC (Central Board of Indirect Taxes and Customs) (Central Board of Excise and Customs).
• CBIC’s main duty is to develop regulations for issues involving the imposition and collection of customs charges, central excise duties, IGST, and central goods and services tax. It also manages these taxes and restricts the use of drugs to a certain level.
• The Central Board of Indirect Taxes and Customs (CBIC) is the governing body for its subsidiary organisations, which include the Central Revenues Control Laboratory, Central Excise, and Central GST Commissionerates.

Major Goals of CBIC

The goals of the CBIC are to:

1. Administer the indirect tax laws in India, including the Goods and Services Tax (GST), Central Excise, and Service Tax, in a fair and efficient manner.
2. Ensure compliance with GST laws by taxpayers, through regular assessment and collection of taxes, enforcement of compliance, and imposition of penalties and fines for non-compliance.
3. Provide support and guidance to taxpayers, by providing information on GST laws and procedures, answering queries and concerns, and conducting awareness campaigns and training programs.
4. Detect and prevent tax evasion, through investigations, inspections, and raids, and by maintaining a GST portal for taxpayers to file GST returns and make tax payments.
5. Contribute to the growth and development of the Indian economy by ensuring the smooth functioning of the indirect tax system, and by promoting compliance and transparency.
6. Continuously upgrade and improve the processes, systems and procedures to make compliance with the Indirect Tax laws easy, simple and taxpayer friendly.
7. Provide a level playing field for all taxpayers and to eliminate the scope for discretion and arbitrary actions.
8. To act as a facilitator for the taxpayers and to help create a culture of voluntary compliance.
9. To build a robust and responsive IT infrastructure to support the objectives of the Board.
10. To build a professional and motivated workforce to achieve the objectives of the Board.
11. Creating sophisticated tax regulations and procedures to support smooth economic activity.
12. Realizing profits in a fair, honest, and effective manner.
13. Handling cross-border trade in both people and goods to ensure the welfare of citizens and the health of the economy.
14. Enhancing the power of all stakeholders to improve adherence
15. Embracing the most innovative global strategies, and promoting bilateral and multilateral international cooperation.
16. Providing financial support for human resources to achieve a high level of competence, honesty, and accountability.
17. According to state tax officials, levying a services and commodities tax throughout India.
18. A clever application of technology and methods to minimize interference and maximize facilitation.
19. Using actions based on risk evaluation and predictive and analytics technology to combat business scams and tax evasion.

Conclusion

In conclusion, the Central Board of Indirect Taxes and Customs (CBIC) is a government organization that is responsible for administering and enforcing indirect taxes such as GST, Customs, Central Excise and Service Tax in India. It acts as the principal authority for interpreting and implementing indirect tax laws, and plays a crucial role in the country’s revenue collection and economic development.

CBIC‘s functions include policy formulation, collection of taxes, and the administration of laws and regulations related to indirect taxes. It also works towards simplifying and streamlining the tax administration process to make compliance easier for taxpayers. Overall, the CBIC plays a vital role in the Indian economy and is committed to ensuring compliance and fairness in the tax system.

Full Form of CBIC FAQs

The Central Board of Indirect Taxes and Customs (CBIC) is a government organization that is responsible for administering and enforcing indirect taxes such as GST, Customs, Central Excise and Service Tax in India.

The main functions of the CBIC include policy formulation, collection of taxes, and the administration of laws and regulations related to indirect taxes. It also works towards simplifying and streamlining the tax administration process to make compliance easier for taxpayers.

You can check the status of your GST return filed with CBIC by logging into the GST portal using your GSTIN and checking the "Returns Dashboard" section.

Yes, it is mandatory for registered taxpayers to file GST returns with CBIC as per the frequency specified by the government.

Penalties for non-compliance with CBIC regulations vary depending on the nature of the violation and can include fines, interest, and even imprisonment.

You can contact CBIC for assistance by visiting the official website and finding the nearest jurisdictional office or by emailing or calling the GST helpdesk.

The benefits of registering for GST with CBIC include being able to claim input tax credit, being able to participate in e-commerce, and being able to grow your business by expanding to other states without any additional taxes.