Some restaurants and hotels are adding 'service charges'.
Bharti Airtel, India's second-largest telecom operator, reported a 37.3 per cent rise in consolidated net profit to 8,167 crore for Q1 FY27, driven by the addition of high-paying premium customers, despite missing Bloomberg consensus estimates.
ServiceNow Vice Chairman Nick Tzitzon highlights India's potential to develop an AI-native government model, emphasising enhanced public services, data privacy, and economic growth.
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.
Maruti Suzuki Chairman R C Bhargava is pushing for increased government incentives for biogas-powered vehicles over hybrids, emphasising their net-zero carbon emissions and the valuable organic manure they produce, while also advocating for continued GST benefits for electric vehicles.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
'Healthy double-digit returns are still possible, though a sharp rally is unlikely.'
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
Indian benchmark indices Sensex and Nifty ended flat on Tuesday, with the Sensex dipping nearly 70 points, as investor sentiment turned cautious ahead of crucial global central bank policy meetings and a significant sell-off in Asian markets.
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.
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.
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.
Mobile payments pioneer Paytm reported significant growth in its UPI payments business for Q1 FY27, driven by app simplification, AI investments, and a focus on attracting Gen Z customers. The company saw a 45% year-on-year increase in Consumer UPI Gross Transaction Value and a rise of 60 lakh in Monthly Transacting Users, outpacing the industry. Paytm's strategy prioritises customer retention and product innovation, leading to a profitable quarter with strong revenue and EBITDA growth, further supported by AI-led operational efficiencies and an India-focused language model.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
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.
Prism, the parent company of OYO, has filed updated draft papers with Sebi for a Rs 6,650 crore initial public offering (IPO) consisting entirely of a fresh issue of shares, with no offer-for-sale component from existing investors.
The Indian government has defended its E20 ethanol blending programme, stating that extensive testing and field experience show no evidence of abnormal engine wear, corrosion, or reduced vehicle life, despite a potential 2-6% reduction in fuel economy.
News agencies, which fulfill certain criteria, are to be exempted from payment of service tax, Finance Minister Pranab Mukerjee said on Friday.
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.
Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
State FMs okay list of tax-exempt services with certain riders.
Finance Minister Pranab Mukherjee had proposed to introduce a service tax of five per cent on hotel room charges and three per cent on air-conditioned restaurants that serve liquor.
The Haj Committees and Kumaon Mandal Vikas Nigam Ltd, which organise the religious pilgrimages will not have to Service Tax.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
Envisaging a wider role for professionals, Company Secretaries have asked the government to make mandatory issuance of a service tax compliance certificate by companies.
The failure of the State when it directly affects our lives, through a corrupt exam system, has produced this current anger, points out Aakar Patel.
One 97 Communications Ltd, operating Paytm, is set to issue its first bonus shares, following a landmark year of achieving its maiden full-year profit and gaining significant market share. The board will meet on July 20 to decide on the bonus issue, reflecting confidence in its financial strength and aiming to improve stock accessibility for retail investors.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
