Unlike Income Tax, service tax is not charged automatically.
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.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
India's new national accounts will leverage new data sources and surveys to enhance the measurement of the country's informal economy, and introduce double deflation methods across sectors, replacing the current system that relies on a single deflation mechanism in Gross Domestic Product (GDP) calculations.
President Droupadi Murmu addressed the nation on the eve of Republic Day, emphasising India's role in promoting peace, the empowerment of women, and the country's economic growth.
Analysts have sharply reduced cigarette maker ITC's earning estimates for the next two years, fearing a significant dent in the company's profitability and margins. This is owing to a steep hike in excise duty on tobacco by the government.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
The Supreme Court of India has struck down key provisions of the 2021 Tribunals Reforms law, citing violations of separation of powers and judicial independence. The court restored earlier directions on tenure for tribunal members.
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
The central government has proposed just two tax rates of 5 per cent and 18 per cent in the revamped Goods and Services Tax (GST), slated to replace the current indirect tax regime by Diwali this year, highly placed sources said.
The insurance industry is trying to get to grips with provisions in the proposed Insurance Amendment Bill, which gives additional powers to the Insurance Regulatory and Development Authority of India (Irdai), while there is ambiguity in the very definition of the insurance business, according to industry experts.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
Alert: Special Service Tax registration camps for service providers in Mumbai.
Shares of tyre manufacturers have outperformed broader equity benchmarks, buoyed by multiple tailwinds. Softer raw material prices, an uptick in demand from automakers following the reduction of the goods and services tax (GST) rates, and steady replacement demand have lifted sentiment toward the sector.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
He was commenting on a reply given by Jaitley to a question in Rajya Sabha.
Buoyant domestic sales are expected to lift revenues for pharma companies by 8-11 per cent in Q3FY26, even as declining generic Revlimid (cancer drug) sales in the US remain a key drag. Most brokerages forecast a modest 2-4 per cent growth in profit after tax (PAT) for the quarter. Hospitals and diagnostics companies, meanwhile, are likely to post much stronger numbers, with revenues seen growing 20-22 per cent year-on-year (Y-o-Y).
The tribunal granted partial relief to the appellants by modifying Sebi's directions on trading restrictions and account freezes, making them conditional on the deposit of the said amount.
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
The growth of India's services sector eased in September from the recent high in August, as new business and activity expanded at slower rates, according to a monthly survey released on Monday.
Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms.
The Nationalist Congress Party, led by Maharashtra Deputy Chief Minister Ajit Pawar, and the Nationalist Congress Party-Sharadchandra Pawar, headed by his uncle Sharad Pawar, on Saturday released a joint manifesto for the upcoming elections to the Pune municipal corporation.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
Lawyers on Tuesday observed a strike to protest against the imposition of service tax on them by Finance Minister Pranab Mukherjee.
Despite forging an alliance with the faction led by his uncle, Nationalist Congress Party chief and Maharashtra deputy Chief Minister Ajit Pawar on Friday failed to protect the party's traditional bastions of Pune and neighbouring Pimpri-Chinchwad, as the Bharatiya Janata Party decimated both the NCPs in the municipal corporation elections.
IT services firm HCLTech on Monday reported a 11.2 per cent decline in consolidated net profit to Rs 4,076 crore in the October-December quarter of FY26.
'The impact will be minimal and it will only increase compliance cost on consent, data flows, localisation timelines, internal audits, data mapping, and new tooling.'
A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
Notwithstanding global headwinds, the Indian economy saw further momentum in October on the back of goods and services tax (GST) rate rationalisation and festival spending, as indicated by high-frequency indicators, the Reserve Bank of India's (RBI's) monthly State of the Economy report said.
The food delivery platform sector in India employed 1.37 million workers in the financial year 2023-24 (FY24) and is growing at a compound annual growth rate (CAGR) of 12.3 per cent, estimates a new report released by the Delhi-based think tank National Council of Applied Economic Research (NCAER).
While top officials of the force, which protects the country's vital installations like nuclear plants and airports, say the service tax is to be paid by its clients and not by CISF and hence there is nothing to be worried about, middle level and ground personnel say they are upset on being 'compared to guards of other private security agencies'.
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