The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh
The Tamil Film Producers Council (TFPC) has resolved to implement a revenue-sharing model for big-budget films, requiring actors and technicians to share profits and losses. The move aims to address financial pressures from declining theatrical and OTT revenues. The TFPC also mandated staggered OTT release windows and formed a committee to ensure access to theaters for smaller films.
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.
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.
India's top cement producers delivered a solid July-September quarter (Q2) in 2025-26 (FY26), lifted by firmer prices, higher sales volumes, and a favourable base. Seasonal weakness and maintenance outages did dent sequential performance, but the overall picture remained positive - and the road ahead looks steady.
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.
Restoration of Customs duty on crude oil & rollback of exemptions likely.
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-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday.
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.
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 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.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Asked to share details of income from all its 16 zones, especially through tatkal, ticket cancellation and bed roll charges
They are not just underreporting income; they are reshaping what the income tax system perceives, says study.
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.
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.
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.
Trent reported decent margins in the second quarter (July-September) of 2025-26 (Q2FY26) but growth moderated. Same store growth was low single-digits. Trent's revenue growth decelerated in Q2FY26 at 17 per cent year-on-year (Y-o-Y) while area additions were offset by decline in revenue per square foot (sq ft).
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.
Understanding severance pay isn't just for those who are losing their jobs
Common return for excise duty and service tax was envisaged when 119 services were taxed.
Move a step towards goods and services tax.
The stock of automotive (auto) components major Bharat Forge has risen 14.6 per cent over the past month. Despite ongoing demand challenges, strong operating performance in the July-September quarter (Q3) of 2025-26 (FY26), a diversified revenue base, and expectations of a gradual recovery have lifted sentiment.
Will have to pay 12% tax besides 3% education cess.
Former IPS officer Amar Singh Chahal allegedly shot himself after claiming he was duped of Rs 8.10 crore by cyber thugs. He was one of the accused in the 2015 police firing cases related to anti-sacrilege protests in Faridkot.
'We operate in an economy that is structurally positioned for long-term growth. As market levels rise over time, our AUM grows in line.'
The government has already allowed reimbursement of service tax on about 19 services used by exporters while selling goods overseas. These include commission paid to foreign agents whose services are subscribed by exporters to book orders with overseas clients. However, a list of 16 services used by exporters is not reimbursed. These include service tax paid on bank charges, packaging services and travel agents' services.
Investors have put money in Ambuja Cements shares as the cement major has moved to consolidate its operations. The Adani Group company has proposed to merge its subsidiaries ACC and Orient Cement into the parent entity.
FM is likely to introduce tax return prepares scheme for small service tax payers in the upcoming budget.
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
Under the service tax law, certain services get exemptions.
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