Government schemes such as the PM E-Drive initiative, with allocations of around Rs 2,000 crore for charging points deployment, are helping accelerate rollout
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
Investments in real estate have just got a bit costlier. Since April 2010, an additional amount in the form of service tax is being collected from buyers, on under construction properties. So what is this service tax and who is deemed to pay it?
Supported by strong buoyancy in public sector capital expenditure (capex), growth in infrastructure investment is expected to accelerate in 2025-26 (FY26) compared to 2024-25 (FY25), according to the First Advance Estimates of gross domestic product (GDP) for FY26 released by the National Statistics Office (NSO) on Wednesday.
India Inc on Sunday hailed the Union Budget 2026-27 as a 'structural shift' in the country's technology landscape, noting that the government is moving beyond fragmented pilots to build foundational layers where AI serves as a 'horizontal enabler' for the entire economy.
The increase in service tax from the 10 per cent to 12 per cent expected to impact the industry. This will negatively impact the industry. However, the reduction of cascading taxes by providing tax credits expected offset this. Also, the allowing 100 per cent deduction to the franchise model (operated by other) is positive to the sector.
The Cascading taxes has been reduced significantly by permitting utilization of input tax credits in a number of services such as catering, restaurants, hotel accommodation, pandal and shamiana and transport sectors.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Transporters across Maharashtra have announced a statewide strike to protest against e-challans and other issues, potentially disrupting transport services including school buses and commercial vehicles.
Accounting regulator ICAI has called for excluding land value from the proposed service tax on the realty sector, saying land is a state subject.
The UK High Court has concluded the hearing for Nirav Modi's application to reopen his extradition appeal, focusing on claims of potential torture during interrogations in India. The court has reserved its judgement.
A pickup in freight rates, rising fleet utilisation and a long-awaited replacement cycle are breathing fresh life into India's commercial vehicle (CV) market, strengthening the investment case for Tata Motors' CV arm (TMCV). Despite a broadly steady December quarter (Q3) performance, brokerages remain divided on whether the upswing is strong enough to offset margin pressures.
Supporting the striking truck operators, the National Democratic Alliance on Wednesday asked the government to withdraw the proposed service tax on transport booking agents.
India all-rounder Yuvraj Singh's mother Shabnam on Friday sought to clear the air on reports that the her son owes a whopping 96.43 lakh in service tax on his income from the first and second Indian Premier League season, saying the King's XI Punjab batsman was paid only for playing and not promotional activity.
The 5per cent service tax (effectively on whole amount) on services on Private hospitals with 25 or more beds have central air-conditioning facilities and to diagnostic tests of all kinds make the health services costlier to the patients as the hospitals tend to pass the same to the patients.
The Central Excise Department said it has slapped service tax of Rs 6 crore on the Preity Zinta co-owned KPH Dream Cricket, which is part owner of IPL franchise Kings XI Punjab.
The domestic cigarette industry is expected to see a 6-8 per cent volume contraction next fiscal following the imposition of additional excise duties and increase in goods and services tax (GST) rates from February 1, Crisil Ratings said on Wednesday.
The Finance Minister attributed the large number of defaulters to benign provisions of the Service Tax Act.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
PAN mandatory for service tax registration: Fin Min
Service tax on AC class train fare will not be realised on tickets purchased before October 1 as railways modified its earlier decision on it.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
Apparently buckling under pressure, the government has decided to exempt cable multi-system operators (MSOs) from the service tax net.
'Despite a challenging FMCG environment, ITC Foods has grown at or above the industry rate.'
The GST Council at its next meeting may consider a reduction in taxes on air and water purifiers as air quality across the country worsens and access to safe drinking water remains uneven.
The tribunal raised tax demand against several airlines, including Jet.
The Revenue Department has extended the deadline by one month to November 25 for filing of service tax returns for the April-June quarter, as it has not been able to provide electronic return form in time.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
