Union Finance Minister Nirmala Sitharaman on Tuesday said the global economy is facing new and complex challenges arising from the digitalisation of economic activity and the emergence of new financial products, and stressed that these issues require joint action by all jurisdictions.
Following the introduction of GST in 2017, the Centre had decreased central excise duties on tobacco and tobacco products to allow for the levy of compensation cess in GST without large impact on tax incidence. This bill seeks to amend the central excise rates, as the cess will be discont
In the Lok Sabha, Opposition members pressed for an immediate debate on SIR, triggering uproar that stalled proceedings throughout the day. Amid the din, the House managed to pass a Bill to amend the GST law in Manipur, introduced earlier by Finance Minister Nirmala Sitharaman to replace
Industry body PHD Chamber of Commerce and Industry (PHDCCI) presented a set of pre-budget suggestions for the micro, small and medium enterprises (MSME) sector to the Finance Minister Nirmala Sitharaman, seeking easier taxes, cheaper credit and simpler rules for small businesses.
The first day of the winter session of Parliament saw repeated sloganeering, with the ruling party alleging that the Opposition MPs are not letting the house function. Between 11 AM to 2 PM, the house saw 3 total adjournments, and legislative business of just around 50 minutes took place.
"The Central government amended the Central Goods and Services Act of 2017, particularly section 121 to 134 of the finance Act 2025. This was passed by Parliament and enacted in 2024. These changes also came into effect on October 2025 after more than half of the states updated their GST.
After a 'sin tax' on tobacco-related items during the GST rationalisation exercise, Finance Minister Nirmala Sitharaman on Monday introduced 'Healthy Security se National Security Cess Bill, 2025', in the Lok Sabha. The Bill proposed a rigorous new tax regime on pan masala and gutkha manu
Finance Minister Nirmala Sitharaman introduced two bills in Lok Sabha on Monday, the first day of Winter session of Parliament, aimed at levying cess on tobacco products and its manufacturing.
The 6th Session of the 18th Lok Sabha and the 269th Session of the Rajya Sabha will commence on Monday, December 1, at 11 am, marking the beginning of the Winter Session of Parliament.
By 2047, Sitharaman said, India needs to be a developed country as envisaged by Prime Minister Narendra Modi. "This vision can only be realised if timely modernisation of the systems and processes take place."