With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise andamp; Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?

EduRev

All Courses

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

UPSC Exam > UPSC Questions > With reference to the Central Board of Indire...

Join the Discussion on the App

With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:

1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.

2. It was formed in 2001.

Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'A'. Can you explain this answer?

FREE This question is part of

Daily Current Affairs MCQ- August 17, 2022

Attempt Test

Attempt this Test

Most Upvoted Answer

With reference to the Central Board of Indirect Taxes and Customs (CBI...

Central Board of Indirect Taxes and Customs (CBIC):

Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.
CBIC is a statutory body established under the Central Boards of Revenue Act, 1963.
CBIC was formed in 1964 when the Central Board of Revenue was split into the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs, which was renamed the Central Board of Indirect Taxes and Customs in 2018.
The Chairman of Central Board of Indirect Taxes and Customs is appointed by Appointments Committee of the Cabinet (ACC) which is headed by the Prime Minister.
The Board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerate’s and the Central Revenues Control Laboratory.

Hence only statement 1 is correct.

Answered by Notes Wala · View profile

Attention UPSC Students!

To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Lucent for GK

History for UPSC CSE

Indian Polity for UPSC CSE

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for UPSC exam

Similar UPSC Doubts

Consider the following statements with reference to the Central Board of Indirect Taxes and Customs (CBIC:1. It is a part of the Department of Revenue under the Ministry of Finance and administers all the indirect tax-related matters in India.2. It also ensures that taxes on foreign and inland travel are administered as per the law.Which of the statements given above is/are correct?

View answer

With reference to the National Institute of Educational Planning and Administration (NIEP

View answer

Sushil Chandra has taken over as the new chairman of the Central Board of Direct Taxes (CBDT) recently. consider the following statements regarding the Central Board of Direct Taxes:1) The Central Board of Direct Taxes is a statutory authority.2) The Board was in charge of both direct and indirect taxes.3) It is a part of the Department of Revenue in the Ministry of Finance, Government of IndiaChoose the correct code

View answer

With reference to the Department of Investment and Public Asset Management (DIPAM), consider the following statements: It is a department under the Ministry of Commerce and Industry. It advises the Government in matters of financial restructuring of the Central Public Sector Enterprises. It is the nodal department for all the Central Public Sector Enterprises. Which of the statements given above is/are correct?

View answer

With reference to the Viva Carnival, consider the following statements:1. It is celebrated in Goa.2. The colourful festival, a vestige of the state’s erstwhile Portuguese rulers, is a celebration before the month of Lent followed by Catholics.Which of the statements given above is/are correct?

View answer

Top Courses for UPSCView all

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Lucent for GK

History for UPSC CSE

Indian Polity for UPSC CSE

CSAT Preparation

Top Courses for UPSC

View all

With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?

Share with a Friend

Answer this doubt

Question Description
With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.

Solutions for With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?, a detailed solution for With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice With reference to the Central Board of Indirect Taxes and Customs (CBIC), consider the following statements:1. Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance.2. It was formed in 2001.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.

Explore Courses for UPSC exam