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[Music] welcome to the latest update program the news of the moment is central excise day 2022 every year central excise day is celebrated on february 24. the day is celebrated to honor the efforts services and contributions of the central board of indirect taxes and customs that is cbic for the country the day aims to encourage and recognize their sincere work this day also highlights the essential role played by the central excise department in the industrial development of india the central excise day commemorates the legislation of central exercises and salt act which was passed on 24 february 1944 it is an act to consolidate and amend the law related to central duties of excise and to salt note that central excise duty is an indirect tax levied on goods manufactured in india now lets know about the central board of indirect taxes and customs that is cbic cbic is a part of the department of revenue under the ministry of finance government of india earlier cbic was known as centra