On 24th February, the Central Excise and Service Tax department celebrated Central Excise Day – 2016 at the Corporation Bank Millennium Building, Mangalore. Our Managing Director and Shri Jayakumar Garg, MD & CEO Corporation Bank joined Shri Subramanya, Commissioner of Excise Department (ED) in lighting of lamp to mark the inauguration of Central Excise Day.

Speaking on the occasion the Commissioner of Excise Dept said that since the time the department is established, it has transformed itself from ‘tax enforcers to tax facilitators’. Various reforms have taken place to reduce transaction cost and have ensured that our goods don’t suffer in international trade, the Commissioner said. He further said that it is the duty of the Excise department to collect each penny owed to the Exchequer and the expense of the ED was the lowest in the world and stood at just 86 paise per 100 rupees collected. The department had also undertaken several social drives like, blood donation and cleanliness drives, he said.

Shri Jayakumar, MD & CEO of Corporation Bank applauded the service given by Excise Department and said that the service given by Excise Department is like a small seed, one may feel it is small but one day it will grow like a banyan tree and benefit the society.

Shri H Kumar, our Managing Director spoke on the occasion and said that the department has improved upon its functioning and modernised over a period of time. Excise Department has helped to fulfil our Hon’ble PM’s promise of ‘ease of business’ and it has played an important role in nation building as it ensured that everyone paid their taxes.

During the programme MRPL was presented a certificate in recognition of ‘Highest Ever Central Excise Duty Payment and Incremental Growth’. Out of total Rs 8325 Crore collected by Central Excise Department in the Commissionerate for 2015-16 (till January) Rs 8225 Crore was paid by MRPL.