Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
The Lok Sabha introduced four significant bills on Monday, including amendments to mines and minerals regulations, the establishment of a National Tribunals Commission, and the renaming of Kerala to Keralam, all while facing continuous protests from opposition members demanding a discussion on the July 20 police crackdown on students.
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.
TVS Motor Company reported a significant 56.8 per cent year-on-year increase in net profit to 1,036 crore in Q1FY27, driven by record sales volumes, an improved product mix, and robust demand in both domestic and international markets, with management anticipating continued double-digit industry growth.
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
The Delhi government has notified detailed guidelines for the Delhi Lakshmi Yojana, outlining strict provisions for beneficiaries found ineligible, including discontinuation of financial assistance, recovery of disbursed funds, and potential fraud charges. The scheme provides Rs 2,500 monthly to eligible women, with specific rules for fund disbursement via RD/FD accounts and CBDC wallets, along with clear eligibility and exclusion criteria.
A farmer in Uttar Pradesh, India, was shocked to receive tax notices for millions of rupees due to a fraudulent firm operating under his name in Delhi. An investigation has been launched to address the identity theft and tax evasion.
Maruti Suzuki India (MSIL) reported a mixed Q1 FY27, with record quarterly sales driving strong revenue growth, but operating performance was below expectations due to higher commodity and other costs impacting margins. Brokerages anticipate sustained sales growth for the company in the current fiscal year, supported by new launches, robust demand, and significant capacity expansion.
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 Indian government has marginally exceeded its indirect tax collection target for fiscal year 2025-26, with strong performances in customs, excise, and GST revenues.
Businesses may eventually have to file returns largely based on invoices uploaded by suppliers, with limited scope for manual changes.
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.
Thousands of students clashed with Bihar Police in Patna while attempting to march to the chief minister's residence, protesting against the Bihar Public Service Commission's (BPSC) examination system and alleged irregularities.
Karnataka Chief Minister D K Shivakumar met with AI major Anthropic to discuss a long-term partnership aimed at accelerating AI adoption across governance, education, healthcare, research, and the state's startup ecosystem. The collaboration focuses on deploying AI solutions responsibly, ensuring data privacy, and developing AI-focused skilling programmes and an AI University.
162 officials of the Trade and Taxes department in Delhi, including three assistant commissioners, were transferred after Delhi Chief Minister Rekha Gupta discovered 'serious irregularities' during a surprise visit.
Prime Minister Narendra Modi has strongly refuted a media report suggesting the government is considering levying a tax, cess, or surcharge on foreign travel, calling the news "totally false".
India's like-for-like gross Goods and Services Tax (GST) revenue growth slowed to a five-year low of 5.57 per cent in FY26, reaching Rs 23.32 trillion, primarily driven by a significant surge in import revenues.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
India's gross Goods and Services Tax (GST) collection reached an unprecedented Rs 2.43 lakh crore in April, marking an 8.7 per cent increase and surpassing the previous record set last year.
Rental yield can indicate whether a property is undervalued, overvalued or fairly valued.
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".
The World Bank's "World Development Report 2026" urges developing countries to adopt low-cost AI tools to accelerate progress in healthcare, education, and judicial services. The report highlights AI's potential to boost productivity and improve public services, while noting that jobs in high-income countries are more at risk from automation than those in developing nations.
Voltas has announced a joint venture with Atomberg Innovation to manufacture high-efficiency room air conditioner (RAC) compressors, aiming to strengthen localisation and supply-chain resilience. Despite significant volume growth in RACs, the company's margins remain a key concern for analysts.
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
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.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
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.
State FMs okay list of tax-exempt services with certain riders.
Cognizant reported a 1.4 per cent year-on-year dip in net profit for the April-June quarter to $636 million, while revenue grew 4.5 per cent to $5.5 billion. The company has also cut the top end of its annual guidance, citing a slowdown in macroeconomic conditions and rising uncertainty.
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.
