New Delhi [India], December 2 (ANI): The Central government is set to move that the Central Excise (Amendment) Bill, 2025, for consideration and passing in the Lok Sabha on Tuesday. Union Finance Minister Nirmala Sitharaman is set to move the bill to amend the Central Excise Act in order to raise the excise duties and cess on tobacco products.
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 discontinued once loan liabilities and interests payments taken under the cess are discharged, according to the government.
Earlier on Monday Finance minister Sitharaman had tabled the bill in the Lok Sabha amid continued Opposition sloganeering demanding a dsicussion on the Special Intensive Revision (SIR) of electoral rolls by ECI.
The Central Excise Bill will amend the Central Excise Act, 1944, under which compensation cess to states and central excise duties were significantly lowered to not impact tax incidence.
“Compensation cess levied on tobacco and tobacco products, wherever applicable, will be discontinued once interest payment obligations and loan liabilities under the compensation cess account are completely discharged. In order to give the Government, the fiscal space to increase the rate of central excise duty on tobacco and tobacco products so as to protect tax incidence, it is imperative to amend the table in Section IV of the Fourth Schedule to the said Act,” according to the bill’s ‘statement of object and reasons.’
Additionally, the Centre is set to present two reports of the Standing Committee on Finance, with the twenty-seventh report on the “Performance review of National Statistical Commission (NSC)”; and the Twenty-eight report on “Review of working of insolvency and bankruptcy code and emerging issues.”
MPs Bhartruhari Mahtab, and Prabhakar Reddy Vemireddy will present the two reports of the Standing Committee on Finance.
Additionally, Union Commerce and Industry Piyush Goyal will move a motion for the election of two members to the rubber board.
Earlier, Lok Sabha saw adjournments on the first day of the winter session and the government and treasury benches sparred in the Rajya Sabha as the government went ahead with its legislative agenda.
Lok Sabha was adjourned till 12 noon, 2 pm, and later for the day, as opposition members insisted on discussing the Special Intensive Revision (SIR) of electoral rolls. There were obituary references in the two Houses.
The two Houses also congratulated the Indian Women’s Cricket Team for winning the ICC Women’s World Cup 2025, the Indian Team for winning the Women’s T20 Cricket World Cup for the Blind 2025 and the Indian team for winning the Women’s Kabaddi World Cup 2025.
Amid sloganeering in Lok Sabha, the Speaker urged opposition members not to resort to disruptions. He said good tradition should be set by House and issues should be discussed. He said bringing placards and obstructing the House in a planned way is not right. (ANI)
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