CBEC changes to CBIC ahead of GST implementation

Ahead of the implementation of Goods and Services Tax (GST) on July 1, the Union government has renamed the Central Board of Excise and Customs (CBEC’s) to Central Board of Indirect Taxes & Customs (CBIC).

“In the run-up to GST rollout, the government renames Central Board of Excise and Customs (CBEC) as Central Board of Indirect Taxes & Customs (CBIC),” according to reports on Saturday.

To implement the GST on July 1, the government is planning to complete all the legislative work in the ongoing budget session of Parliament.

Union Finance Minister Arun Jaitley in the Lok Sabha last week had said the GST Council has cleared all the major hurdles for the GST Bill.