Traders on Tuesday threatened to launch a nation-wide agitation to protest against imposition of service tax.
The Union Budget, while keeping the service tax rate unchanged at 10 per cent, has expanded its ambit to include services provided by legal consultancy and advisory firms. The tax would, however, not be applicable if the service provider or receiver is an individual.
While this doesn't mean that air travel is now a breeze, what it does mean is that you now have more rights and more control over your money.
A pickup in freight rates, rising fleet utilisation and a long-awaited replacement cycle are breathing fresh life into India's commercial vehicle (CV) market, strengthening the investment case for Tata Motors' CV arm (TMCV). Despite a broadly steady December quarter (Q3) performance, brokerages remain divided on whether the upswing is strong enough to offset margin pressures.
Some restaurants and hotels are adding 'service charges'.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
Gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, even as sweeping tax cuts slowed down growth in revenues from domestic transactions, according to government data released on Thursday.
The domestic cigarette industry is expected to see a 6-8 per cent volume contraction next fiscal following the imposition of additional excise duties and increase in goods and services tax (GST) rates from February 1, Crisil Ratings said on Wednesday.
'Despite a challenging FMCG environment, ITC Foods has grown at or above the industry rate.'
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
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
Seeking to allay fears of traders who have threatened to go on a nationwide strike opposing the service tax, the government on Tuesday said the liability to pay the tax is on goods transport agencies.
Budget 2026 is an intentional and ambitious one - From manufacturing growth to services supremacy, from technology consumption to AI-powered transformation. This is the blueprint for a $7 trillion economy built on intelligence, not just scale.
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
Supported by strong buoyancy in public sector capital expenditure (capex), growth in infrastructure investment is expected to accelerate in 2025-26 (FY26) compared to 2024-25 (FY25), according to the First Advance Estimates of gross domestic product (GDP) for FY26 released by the National Statistics Office (NSO) on Wednesday.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
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.
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
The new circular issued by the tax research unit of CBEC on June 19 says, "CAG would not be covered by the service head Business Support Service."
Government will get an additional tax of Rs. 2,110 crore from proposed changes.
Providing relief to exporters hit by the rise in rupee value, the government on Monday announced they would be exempted from tax on services rendered by ports, road transport and railways.
'Except for extremely conservative investors, others can consider allocating 10 to 20 per cent of their portfolio to small caps.'
The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League cricket tournament to make them comply with its service tax payment demands.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
Get ready to shell out more for your movie tickets, cricket matches or visits to amusement parks as all recreation services will come under service tax later this year.
For MSMEs the transition could mean higher wage bills and tougher compliance -- unless strong handholding follows reports Auhona Mukherjee.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
India's retail inflation, which has stayed below the Reserve Bank of India's (RBI's) 4 per cent target in recent times, is likely to remain benign in the coming months, RBI Deputy Governor Poonam Gupta said in a speech, on Friday, which was uploaded on the central bank's website on Tuesday. Headline inflation dipped to multi-year lows of around 1.5-2.8 per cent in late 2025.
The government's Budget announcements providing tax holiday for data centres, setting up of city economic regions (CERs) and funding to improve infrastructure in Tier-II and -III cities may give an indirect boost to India's realty sector, said industry executives.
Business confidence in India Inc rose to a five-quarter high in December quarter of FY26, amid further reform expectations and steady domestic demand, a survey by industry body Confederation of Indian Industry (CII) showed. The CII Business Confidence Index (BCI) rose for the third consecutive quarter to 66.5 in the December quarter from 66 in the preceding September quarter.
The GST Council at its next meeting may consider a reduction in taxes on air and water purifiers as air quality across the country worsens and access to safe drinking water remains uneven.
The automobile and auto-ancillary sector is expected to show strong Q3FY26 results, aided by festival-led demand, rationalisation in goods and services tax (GST) rates for select categories of vehicles, easing interest rates, and improving rural sentiment.
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
The Budget emerges as a measured, credible and forward-looking policy document that reinforces India's commitment to remaining a stable, reform-oriented economy amid an increasingly fragmented global landscape, says A Balasubramanian.
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
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