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.
TransUnion Cibil CEO Bhavesh Jain highlights the improved retail portfolio quality in January but stresses the need for lenders to continuously engage with borrowers on credit usage and repayment, similar to the approach taken during the Covid-19 pandemic, as the impact of the Iran war on credit quality is still being assessed.
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.
Prime Minister Narendra Modi has accused opposition parties of obstructing the passage of the women's reservation bill in Parliament, alleging they have crushed the dreams of women and prioritised selfish politics over national progress.
Envisaging a wider role for professionals, Company Secretaries have asked the government to make mandatory issuance of a service tax compliance certificate by companies.
A new survey indicates that Indian employers are planning to increase hiring in the April-June quarter, driven by strong business confidence and domestic demand. The survey also highlights the impact of AI adoption on workforce strategy and the challenges of talent scarcity.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
India's electric vehicle (EV) market experienced a significant surge in financial year 2025-26 (FY26), with e4W registrations nearly doubling and e2Ws growing by over 20%, propelled by expanding charging infrastructure, diverse model launches, and accessible financing.
India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
The government seems to be contradicting its earlier clarification that "computer-enabled services, namely, back office processing, shall not be subject to service tax", opines Sachin Menon and Prasad Paranjape.
A Delhi court has convicted two CBI officers for assaulting and trespassing into the residence of an Indian Revenue Service officer during a raid over two decades ago.
Analysts are increasingly optimistic about India's capital markets, with HDFC AMC, CAMS, and KFin Technologies identified as top investment picks. This optimism stems from a structural shift in household savings towards financial instruments and an expected multi-year earnings expansion for market infrastructure providers and asset management companies.
Facing an annual loss of a whopping Rs 300 crore (Rs 3 billion), shipowners have pleaded with the finance ministry to keep them out of service tax net and exempt them from withholding and fringe benefit taxes.
The Supreme Court on Wednesday rejected the Board Of Control For Cricket In India's plea against a tribunal order asking it to pay around Rs 18 crore as service tax for video graphing matches and selling the feed to private sport channels.
The government is considering to enact Service Tax Act and is likely to allow states to levy the tax on local items after nationwide value-added tax is introduced, a senior official of Central Board of Excise and Customs said on Thursday.\n\n\n\n
Kerala's voters are sophisticated, educated, and unforgiving. They have once again made it clear that no government is entitled to remain in power. The Congress would do well to remember this, points out Ramesh Menon.
The Central Information Commission has ordered the disclosure of an investigation into a retired IRS officer's alleged acquisition of assets under different identities and subsequent name change to claim ownership, deeming the case a potentially significant revelation.
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 Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
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.
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
The levy will be 10%, with an abatement of 50%, effectively bringing down the service tax levy to 5% on the tariff.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
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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
Gross GST collections rose 6.2 per cent to a three-month high of over Rs 1.93 lakh crore in January, indicating increased consumption is making up for rate cuts late last year, sources said on Sunday.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
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.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
Telephone use, eat-outs and other activities will cost more.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
ICICI Bank on Thursday said tax authorities have slapped a demand notice of Rs 238 crore on it for alleged short payment of GST.
AIADMK general secretary Edappadi K Palaniswami has announced a series of welfare measures, including free refrigerators for rice ration cardholders, if the party wins the 2026 Assembly election in Tamil Nadu.
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.
A senior Goods and Services Tax (GST) officer has been arrested in connection with the alleged suicide of a junior colleague, who was reportedly facing harassment and pressure to engage in unethical practices.
