Sanjay Kumar Agarwal Takes Over as CBIC Chairman

On August 5, 2023, Sh. Sanjay Kumar Agarwal, an officer of the Indian Revenue Service (Customs and Indirect Taxes) of the 1988 batch, assumed the role of Chairman of the Central Board of Indirect Taxes and Customs (CBIC).

Download August 2024 BOLT PDF (Current Affairs)

He succeeds Vivek Johri, who retired as the head of CBIC on May 31. Sh. Agarwal, who was previously overseeing CBIC member compliance management and investigations, has been appointed to this significant position by the finance ministry in an order issued on August 5.

About the Central Board of Indirect Taxes and Customs (CBIC)

The Central Board of Indirect Taxes and Customs (CBIC) is a statutory body under the Ministry of Finance, Government of India. It is responsible for the administration of indirect taxes in India, which includes customs, central excise, service tax, and GST.

The CBIC was formed on January 1, 1964, by merging the Central Board of Excise and the Central Board of Customs.
The board is headed by a chairman, who is a senior Indian Revenue Service officer.
The board has a number of members, who are also senior Indian Revenue Service officers.
The CBIC has its headquarters in New Delhi, and it has regional offices in all major cities in India.
The board also has a number of specialized units, such as the Directorate of Revenue Intelligence, the Directorate of Goods and Services Tax Intelligence, and the Directorate of Customs Intelligence.

Key Functions

Levying and collecting indirect taxes
Enforcing the laws related to indirect taxes
Investigating cases of tax evasion
Promoting trade and commerce
Facilitating compliance with indirect tax laws

The CBIC plays a vital role in the Indian economy. It collects billions of rupees in indirect taxes every year, which helps to fund the government’s expenditures. The board also plays a role in promoting trade and commerce by ensuring that the indirect tax regime is fair and transparent.

Initiatives

The CBIC is committed to providing high-quality services to taxpayers. The board has a number of initiatives in place to make it easier for taxpayers to comply with indirect tax laws. These initiatives include:

Online filing of returns
Electronic payment of taxes
Telephonic assistance
Face-to-face counseling

The CBIC is also working to simplify the indirect tax laws. The board has introduced a number of simplification measures in recent years, and it is committed to further simplifying the laws in the future.

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