Parliament clears Bill to levy cess on pan masala manufacturing units

Parliament on Monday approved a bill seeking cess on manufacturing units of pan masala to augment expenditure on national security and public health.

 

The Rajya Sabha returned the Health Security se National Security Cess Bill, 2025, to the Lok Sabha. The bill was approved by the Lower House on Friday.

 

The cess will be over and above the GST, and will be levied on the production capacity of machines in pan masala manufacturing factories.

 

Replying to the debate on the bill, Finance Minister Nirmala Sitharaman said the cess is intended to serve the cost of national and health security. 

ITR forms under new I-T Act to be notified prior to FY28: Govt 

The new income tax returns (ITR) form based on the I-T Act, 2025, will be notified prior to FY28, Minister of State for Finance Pankaj Chaudhary said. The CBDT committee on simplification of ITR forms is carrying out consultations with tax experts, institutional bodies, and field formations of the I-T Department, he said. 

PSBs write off loans worth ₹6.15 trillion in 5.5 years 

Public-sector banks (PSBs) have written off loans worth ₹6.15 trillion in the past five and a half years, Parliament was informed on Monday. “According to the Reserve Bank of India (RBI) data, PSBs have written-off an aggregate loan amount of ₹6,15,647 crore, during the last five financial years and the current financial year till September 30, 2025 (provisional data),” Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. 

There has been no capital infusion in PSBs by the government since FY23, he said, adding, PSBs have significantly improved their financial performance, turning profitable. 

ED attaches ₹4,190 cr in crypto cases under PMLA 

The Enforcement Directorate (ED) hasattached proceeds of crime worth ₹4,189.89 crore in crypto-related cases under the anti-money laundering law, Prevention of Money Laundering (PMLA), and declared one accused as a Fugitive Economic 

Offender, Minister of State for Finance Pankaj Chaudhary said in a written reply to a question in the Lok Sabha. 

Besides, the Central Board of Direct Taxes (CBDT) has also detected undisclosed income of ₹888.82 crore from virtual digital assets (VDA) transactions during search and seizure operations. 

The government has also brought VDAs under the PMLA.