Can lead to imprisonment up to seven years.
Hindustan Unilever Ltd's (HUL's) second quarter 2025-26 (Q2FY26) consolidated revenue rose 2 per cent to Rs 16,250 crore, with low or flat volume growth. Demand remained stable but goods and services tax (GST) transition and prolonged monsoon hurt offtake.
Prime Minister Narendra Modi on Wednesday renewed his pitch for Make in India across sectors -- from mobiles to semiconductors and electronics, saying the government is accelerating the pace of reforms, offering the best investment opportunities.
Brokerages expect the company to continue outperforming in the auto segment, driven by launches and the strong trajectory of healthy bookings.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
Indian consumers are entering the festive season with renewed confidence and financial optimism, outpacing global benchmarks, according to Deloitte India's latest Consumer Signals: India Chapter. "With inflationary pressures easing and the recent Goods and Services Tax (GST) revisions enhancing purchasing power and festive cheer among consumers, this brings a new wave of consumption.
At present, the service tax rate stands at 12 per cent. Added to this is a 2 per cent education cess, bringing the incidence to 12.24 per cent.
The penalty can be a maximum 50 per cent of the tax.
The GoM of state ministers on GST rate rationalisation on Thursday accepted the Centre's proposal to move to a two-slab structure of 5 and 18 per cent. Bihar Deputy Chief Minister and convenor of rate rationalisation GoM Samrat Choudhary said the six-member state ministerial panel has also accepted the proposal of removing the 12 and 28 per cent slabs.
A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
In a stern warning to service tax evaders, the government asked them to either pay their dues by tomorrow or face penal action which could include arrest and prosecution.
Finance Minister Nirmala Sitharaman on Tuesday said that raising the FDI limit to 100 per cent in the insurance sector will help attract more capital, improve competition and increase insurance penetration by making policies more affordable.
Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
Restoration of Customs duty on crude oil & rollback of exemptions likely.
'High taxes have kept away art collectors who will now embrace the new GST.'
The government has broadened the ambit of services exempted from service tax for Special Economic Zones as services provided to these zones even from outside would not be taxable.
Indian cricket fans, who love turning up for IPL matches across the country, will have to shell out more for tickets next season with government raising the Goods and Services Tax.
Asked to share details of income from all its 16 zones, especially through tatkal, ticket cancellation and bed roll charges
'We currently have new proposals worth Rs 1.48 trillion in the pipeline.'
The Point of Taxation Rules, first introduced during the Union Budget in February, says service tax, which was so far paid after the collection of dues from clients, would now have to be paid on the 5th or 6th of every month once the invoice for the service was raised.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
Bharat Sanchar Nigam Ltd is all set to emerge as a major service tax payer to the central government with the amount expected to touch Rs 1,800 crore (Rs 18 crore) during 2003-04.
Amazon India unveiled a dedicated marketplace section highlighting products with reduced tax burdens as the goods and services tax (GST) restructuring took effect on September 22, positioning the ecommerce giant to capitalise on lower consumer prices across electronics, appliances, and other categories. Its rival Flipkart, too, has rolled out its own GST-focused storefront, the GST Bachat Utsav, aimed at helping shoppers maximise benefits from the new tax rates across multiple categories.
State-owned insurer LIC on Thursday reported a 32 per cent jump in net profit to Rs 10,053 crore for the second quarter ended September 30, aided by a lower commission outgo. The country's biggest insurer had reported a net profit of Rs 7,621 crore in the year-ago period.
Nokia India Ltd, the wholly owned subsidiary of Finnish cellular equipment maker Nokia, on Thursday suffered a legal setback when a tax appellate tribunal ordered it to pay service tax on consultancy services offered by it to the parent company's cli
The finance minister also provided some relief to readymade garment manufacturers by raising the abatement available for levy of taxes on retail price of some branded garments and textile made-ups.
In the midst of a tax probe into finances of IPL, authorities have issued notices to several sponsors of the first edition of the Twenty20 event, including DLF, Adidas and Religare for non-payment of service tax.
Billionaire Mukesh Ambani on Thursday termed the second-generation GST reforms as a big booster to consumption-driven growth while his firm promised to pass on the benefit of the cut in tax rates to consumers.
Common return for excise duty and service tax was envisaged when 119 services were taxed.
Move a step towards goods and services tax.
With gains of over 28 per cent, Hero MotoCorp has emerged as the best-performing largecap automotive stock over the past three months. The rally has been driven by an improved outlook for the rural segment, higher demand during the ongoing festival season, and rising affordability following cuts in goods and services tax (GST) rates.
Taking a serious note of the situation, the civil aviation ministry said it has invoked regulatory powers to ensure fair and reasonable fares across all affected routes.
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