Countdown to GST: CBEC to be renamed as CBIT

CBIT, CBEC, GST

As per the government’s efforts to meet  the deadline of April 1, 2017 for the roll-out of GST, Central Board of Excise & Customs (CBEC) will be known as Central Board of Indirect Tax (CBIT). The GST Council, to be chaired by the Union Finance Minister and state finance ministers as its members, is set to come into effect from today (12th September, 2016).

The CBIT will have a mandate to implement the rules, including exemptions and threshold, to be set by the GST Council under a secretary rank officer. As per its draft blueprint, the CBIT will be divided into six regions — northern, southern, eastern, western, north-eastern and central — and will be headed by a principal commissioner-level officer.

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