While clarifying the provisions of service tax to be levied on services provided by air conditioned restaurants with licence to serve liquor, the CBEC said the value added tax excluded from the taxable value.
The Central Board of Excise and Customs (CBEC) have tightened noose on commercial renting of immovable property and telephone companies by receiving information through other sources to detect any possible evasion of service tax.
India's electric vehicle (EV) market experienced a significant surge in financial year 2025-26 (FY26), with e4W registrations nearly doubling and e2Ws growing by over 20%, propelled by expanding charging infrastructure, diverse model launches, and accessible financing.
Kerala's voters are sophisticated, educated, and unforgiving. They have once again made it clear that no government is entitled to remain in power. The Congress would do well to remember this, points out Ramesh Menon.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
Earlier, the customer paid service tax on 1 per cent of the premium. From the next financial year, this will go up to 1.5 per cent.
The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
The government is considering to enact Service Tax Act and is likely to allow states to levy the tax on local items after nationwide value-added tax is introduced, a senior official of Central Board of Excise and Customs said on Thursday.\n\n\n\n
Here are the key numbers to watch out for in the Union Budget for 2025-26:
Ministry will give relief to exporters through a mechanism that will enable a timely refund of credit balance and time-bound refund of additional duty of customs.
Government schemes such as the PM E-Drive initiative, with allocations of around Rs 2,000 crore for charging points deployment, are helping accelerate rollout
The levy will be 10%, with an abatement of 50%, effectively bringing down the service tax levy to 5% on the tariff.
Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
The Supreme Court on Wednesday rejected the Board Of Control For Cricket In India's plea against a tribunal order asking it to pay around Rs 18 crore as service tax for video graphing matches and selling the feed to private sport channels.
TDS has been successfully used for direct taxes like the income tax.
E-filing through the Centre's online tax payment application Automation of Central Excise and Service Tax will be a must not only for returns due after October 1, but also for returns of past periods which have not been filed yet or are to be revised.
India's electric two-wheeler (e2W) manufacturers have urged the government to extend subsidies under the PM E-Drive (Electric Drive Revolution in Innovative Vehicle Enhancement) scheme beyond March 2026, cautioning that a withdrawal could slow near-term demand even as confidence in long-term electric mobility adoption remains intact.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
Can lead to imprisonment up to seven years.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
Skoda India is focusing on cleaner fuel options, including CNG and EVs, while compact SUV Kylaq drives volumes, expands first-time buyers and strengthens the brand in India's competitive market
The government has broadened the ambit of services exempted from service tax for Special Economic Zones as services provided to these zones even from outside would not be taxable.
Restoration of Customs duty on crude oil & rollback of exemptions likely.
Nokia India Ltd, the wholly owned subsidiary of Finnish cellular equipment maker Nokia, on Thursday suffered a legal setback when a tax appellate tribunal ordered it to pay service tax on consultancy services offered by it to the parent company's cli
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
Bharat Sanchar Nigam Ltd is all set to emerge as a major service tax payer to the central government with the amount expected to touch Rs 1,800 crore (Rs 18 crore) during 2003-04.
India Inc on Sunday hailed the Union Budget 2026-27 as a 'structural shift' in the country's technology landscape, noting that the government is moving beyond fragmented pilots to build foundational layers where AI serves as a 'horizontal enabler' for the entire economy.
FM is likely to introduce tax return prepares scheme for small service tax payers in the upcoming budget.
'LIC will reduce but not fully exit its stake in IDBI Bank, which remains an important bancassurance partner,' says LIC of India' MD and CEO R Doraiswamy.
Despite a 2.8 per cent fall in 2025 volumes, Mercedes-Benz India reported its best-ever revenue and profitability, led by top-end models, AMG growth and higher BEV mix.
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