LawLoveLegal

The Union Government is set to introduce a new cess regime targeting sin goods, beginning with pan masala and eventually extending to cigarettes and other tobacco-based products. As Parliament’s Winter Session begins, this marks one of the most significant fiscal policy developments replacing the GST Compensation Cess framework. Introduction of the Health Security se National Security Cess Bill Union Finance Minister Nirmala Sitharaman will introduce the Health Security se National Security Cess Bill, 2025 in the Lok Sabha. The objective of the legislation is two-fold: To mobilize funds for national security expenditure , and To strengthen public health financing . The bill empowers the central government to impose a cess on pan masala and any other items it notifies under public interest. Once passed, the cess will come into effect from the date it is notified in the Official Gazette. Scope of Goods Covered Under the New Cess While the bill is expected to begin with p...

The recent delay in income tax refunds for FY 2024–25 has caused uncertainty among taxpayers across India. While many expected quicker processing after filing their Income Tax Returns (ITRs) by the extended deadline of September 16, several refunds are still pending. On Monday, the Central Board of Direct Taxes (CBDT) Chairman, Ravi Agrawal , provided clarity on the reasons behind these delays and the steps being taken by the department. Current Status of ITR Refunds: What the CBDT Chairman Said According to the CBDT Chairman, low-value refunds have already begun to be released , and the remaining refunds are expected to be processed by end of November or December 2024 . He clarified that the delay is largely due to the tax department identifying cases where wrongful deductions were claimed , necessitating verification before the refunds could be released. Wrongful Deduction Claims: Core Reason Behind Delays The department has detected many returns where taxpayers claimed: H...