CBIC stands for ___________.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Central board of indirect taxes and customs.
CBIC stands for the Central Board of Indirect Taxes and Customs. It's a part of the Department of Revenue under India's Ministry of Finance. CBIC is responsible for administering indirect taxes like Goods and Services Tax (GST), customs duties, and other levies. It formulates policies, enforces regulations, and prevents smuggling, playing a crucial role in India's economy and trade.