Kaushal Srivastava is set to become the new Chairman of the Central Board of Excise and Custom (CBEC), the apex policy making body of indirect taxes.

Srivastava, a 1978 batch Indian Revenue Service officer and senior-most in the board after the present chairperson, is at present Member (budget) with additional charge of computerisation and vigilance. He will replace JM Shanti Sundharam, who is retiring on October 31. Srivastava will remain at the top post till July next year when he turns 60, the official age of retirement.

All eyes are now on the appointment of new members in the board, which has a required strength of seven (Chairman and six members). However, two posts are lying vacant.

The appointment of members is critical, as the Finance Ministry has fixed a target of 25.8 per cent in the current fiscal over actual tax collection in 2013-14.

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