The local chapter of Indian Chamber of Commerce and Industry in Coimbatore has again appealed to the Centre to reconsider the imposition of service tax on goods transportation.
The Karnataka State Cyber Command has uncovered a fake call centre racket operating in Bengaluru, where individuals impersonated a US-based accounting firm to defraud US citizens.
Indian cement manufacturers, despite a stable Q4FY26, are bracing for significant profitability pressures from Q1FY27 onwards due to escalating input costs, primarily driven by the West Asia conflict's impact on coal and petcoke prices.
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.
Increased input costs due to geopolitical conflict in West Asia and unseasonal rain in March negatively impacted volumes of consumer durables makers, particularly air conditioners, in Q4FY26, leading to projected declines in EBITDA and APAT despite revenue growth.
'Investors shouldn't let fear dictate their decisions. The most important step is simply to begin investing.'
The levy will be 10%, with an abatement of 50%, effectively bringing down the service tax levy to 5% on the tariff.
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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
The India-US trade deal has offered a much-needed breather for the Indian information technology (IT) industry, which has been grappling with global macroeconomic uncertainty and subdued client spending over the past few years.
Notwithstanding the economic complementarities and the host of agreements for deepening economic relation on a host of areas, both sides share common viewpoints on the foreign policy domain and seek common grounds to serve as a counterweight to China, notes Dr Rajaram Panda.
The Nifty 50 firms' contribution to the overall earnings of India Inc has steadily declined, reaching its lowest share in at least 21 quarters at 47.1 per cent in Q4FY26, down from 51.8 per cent a year earlier.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
'I own a few cars that I have had specified minutely to my taste, and it does feel nice to know that there are no other vehicles like them anywhere in the world.'
The Confederation of All India Traders on Monday demanded the withdrawal of service tax on traders and threatened to go on a nationwide agitation if the demand was not met.
Telephone use, eat-outs and other activities will cost more.
Fino Payments Bank's MD and CEO, Rishi Gupta, has been arrested for violating Goods and Services Tax laws, prompting the appointment of Ketan Merchant as the interim head.
'The software vendor had a black mark against him and yet they went ahead with him. Why was this company shortlisted? Who is responsible for signing off this software?'
The government has rationalised the service tax liability on sellers and distributors of lottery tickets by giving them the option to pay tax at flat rate based on the face value of tickets.
TDS has been successfully used for direct taxes like the income tax.
In a representation to the ministry of finance, it has demanded that labour-intensive security agencies should no longer be enlisted under the category of service providers and brought under the category of auxiliary service providers so that they could avail of tax benefits.
Tata Motors' MD and CEO, Girish Wagh, has identified rising diesel prices as the most significant threat to India's commercial vehicle (CV) industry recovery, despite the sector recently surpassing its pre-FY19 wholesale peak. Diesel costs account for 25-50% of a truck operator's total cost of ownership, making any increase a critical concern for fleet economics.
India's GST revenues experienced significant growth in March, reaching pre-tax cut levels, driven by increased imports and domestic sales. The report analyses the impact of tax rate changes and provides insights into future trends and economic stability.
The finance ministry is instead thinking of expanding the list of services on which the tax would be levied under the reverse charge mechanism.
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.
'Repeated adjournments are one of the largest contributors to lengthy litigation cycles.'
India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
Those paying more than Rs 25 lakh in service tax will soon have to file their returns every month instead of once in six months.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
If states are to levy service tax, a combined GST will become a nightmare since a host of tax departments in each state will also have to be dealt with.
The global airlines body International Air Transport Association also said that such taxes would compromise the industry's ability to maintain margins. Ravi said he would also appeal to all state governments to reduce sales tax on aviation turbine fuel.
Urban development minister Jaipal Reddy said on Friday that he would also ask the finance minister to review his decision to bring the real estate sector under the service tax net. Real estate players were unanimous that the extra burden would be passed to the consumer if, indeed, the service tax is imposed.
The International Air Transport Association (IATA) has termed the service tax charged on air tickets by the Indian government as illegal according to the Chicago Convention.
A shift appears underway in India's tax landscape. States with relatively smaller tax collections like Odisha and Telangana are emerging as the fastest-growing contributors to indirect and direct tax collections, respectively.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
Leading Indian jewellery bodies, including the All India Gem & Jewellery Domestic Council (GJC) and Malabar Gold & Diamonds, have expressed support for Prime Minister Narendra Modi's appeal to reduce gold imports and are advocating for enhancements to the Gold Monetisation Scheme (GMS) to unlock India's vast idle gold reserves.
The Central Excise and Service Tax Appellate Tribunal ordered the BCCI pay Rs three crore interim payment towards service tax dues.
Finance Minister P Chidambaram on Thursday sought to allay fears expressed by traders, who have threatened to go on nationwide strike opposing the service tax, saying the tax is imposed on goods transport agencies.
