Traders on Tuesday threatened to launch a nation-wide agitation to protest against imposition of service tax.
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
Understanding severance pay isn't just for those who are losing their jobs
Some restaurants and hotels are adding 'service charges'.
For every 100 rupees, households invested Rs 45.2 in mutual funds and equities in 2024-2025.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
The July-September quarter (Q2) performance of consumer electricals and durables major Havells India in 2025-26 (FY26) was broadly in line with Street estimates. While the top line was supported by robust growth in the wire and cable, switchgear, and lighting segments, the consumer durables segment restricted overall gains.
The wife of an Indian-origin man who died after waiting over eight hours for treatment at a Canadian hospital is seeking accountability. The man, Prashant Sreekumar, died of suspected cardiac arrest after a prolonged wait, raising concerns about hospital bed shortages and potential negligence.
The passenger vehicle (PV) business of Tata Motors, which also includes the electric vehicle and Jaguar Land Rover businesses, post-demerger is now valued at Rs 1.45 trillion.
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.
Fast-moving consumer goods (FMCG) companies are expected to report mid-single-digit revenue growth in the July-September 2025-26 quarter, according to their quarterly updates. Most companies also noted that supply chains were focused on liquidating existing stock ahead of the implementation of new goods and services tax (GST) rates in categories where the tax was lowered.
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."
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
Government will get an additional tax of Rs. 2,110 crore from proposed changes.
'Growth will definitely continue to come most from the sub-four-metre SUV segment, primarily because that is where the heart of economy and affordability is. Naturally, that will keep pushing the share of that segment (in overall PV sales) higher.'
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
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.
Only firms that have scale in content and a technology engine that drives its discovery and monetisation can compete,' explains Vanita Kohli Khandekar.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
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.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
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.
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".
Electric passenger vehicle (PV) retail sales jumped more than twofold in September with Tata Motors (TaMo) leading the pack having over 6,000 registrations and a 40 per cent market share.
'We are seeing a lot of people with helmets visiting our showrooms.'
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.
The Haj Committees and Kumaon Mandal Vikas Nigam Ltd, which organise the religious pilgrimages will not have to Service Tax.
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 operating performance of the country's largest passenger carmakers, Maruti Suzuki India (MSIL) and Hyundai Motor India (HMIL), in the July-September quarter (Q2) of 2025-26 (FY26) outpaced brokerage expectations.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
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