The guest lecture by Anil Shri Daran offered an insightful overview of the Central Board of Indirect Taxes and Customs (CBIC) and its pivotal role in India’s fiscal framework. He explained how the CBIC functions as the backbone of indirect taxation, managing GST, customs, and central excise while ensuring smooth trade and commerce. Highlighting the Union Government’s gross tax revenue, he detailed key sources of revenue, including GST, customs duty, central excise, and various non-tax revenues. He further discussed the persistent challenge of tax evasion and the importance of tax rebates to encourage compliance. The lecture also explored the Budget at a Glance, trends in tax receipts, and the evolving responsibilities of the CBIC, such as rationalizing GST rates, reducing the number of tax slabs, addressing the inverted duty structure, and implementing nil GST for essentials. He emphasized that revenue collected is channeled into nation-building projects, welfare schemes, and infrastructure. With upcoming GST 2.0, rate rationalization and service- related changes aim to simplify the system, strengthen compliance, and boost economic growth while balancing trade competitiveness.