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  • DAILY CURRENT AFFAIRS:Finance Minister Nirmala Sithraman inaugurates National Museum of Customs and GST in Goa

Finance Minister Nirmala Sithraman inaugurates National Museum of Customs and GST in Goa

Tags: Economy/Finance State News

The Union Finance Minister Smt. Nirmala Sitharaman inaugurated the national museum of Customs and GST (Goods and Service Tax) at Panaji, Goa on 11 June 2022.

  •  The museum named ‘Dharohar’ is in a 400 years old building in Panaji on the banks of the Mandovi river.
  • The building was known as Alfandega, during the period of Portuguese rule in Goa.
  • The national museum showcases the journey of the making of Goods and Services Tax (GST) and depicts custom procedures among others. Dharohar is one of its kind museums in the country that showcases not only the artefacts seized by Indian Customs across the country but also depicts basic customs procedures for the knowledge of the general public.
  • Notable among its displays are the handwritten manuscript of Ain-i-Akbari, a replica of Amin pillars, seized metal and stone artefacts, ivory items and wildlife items.
  • In a bid to create awareness and spread tax literacy among people as well as children, the Central Board of Direct Taxes has developed some interesting ‘learn by play’ products. Finance Minister will launch a set of Board Games, 3D Puzzles and Comic Books under this series.

Custom Duty

It is levied on the export and import of goods and services 

Goods and Service Tax (GST)

The 101st constitutional amendment Act of 2016 led to the introduction of Goods and Service tax in India. 

GST is a single Indirect tax which replaced multiple indirect taxes levied by the Central and State governments. 

It was implemented on 1 July 2017 in India.

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, Government of India.

 It deals with the tasks of formulation of policy concerning levy and collection of Customs, Central Excise duties, Central Goods & Services Tax and IGST, 

It also deals in prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods & Services Tax, IGST and Narcotics to the extent under CBIC's purview.

Chairperson: Vivek Johri 

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