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Central board of excise and customs to be renamed central board of indirect taxes and customs

With the rollout of GST, the Union Minister for Finance and Corporate Affairs, Arun Jaitley while presenting the General Budget 2018-19 in Parliament today, announced that the name of Central Board of Excise and Customs [CBEC] will be changed to Central Board of Indirect Taxes and Customs (CBIC).

The necessary changes in law for this are proposed in the Finance Bill, Jaitley added