CBIC operationalised Interim Boards for Settlement: CBIC has established offices for operationalizing Interim Boards for Settlement (IBS) across four major zones: Delhi, Kolkata, Mumbai, and Chennai. It is in accordance with Section 31A of the Central Excise Act, effective from 8th April 2025. (Central Excise CBIC Office Order 03/2025 Dated 08/04/2025)