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.
'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.'
Accounting regulator ICAI has called for excluding land value from the proposed service tax on the realty sector, saying land is a state subject.
Supporting the striking truck operators, the National Democratic Alliance on Wednesday asked the government to withdraw the proposed service tax on transport booking agents.
The central government has proposed just two tax rates of 5 per cent and 18 per cent in the revamped Goods and Services Tax (GST), slated to replace the current indirect tax regime by Diwali this year, highly placed sources said.
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.
Gross GST collection rose at a slower pace of 0.7 per cent in November at Rs 1.70 lakh crore, as domestic revenues declined, according to the government data released on Monday.
Congress leader Priyanka Gandhi Vadra has accused the CPI(M)-led LDF in Kerala of striking a secret deal with the BJP for the upcoming Assembly elections, alleging suppression of dissent and targeting of minorities by both the state and central governments.
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.
Ahead of the Union Budget 2026-27, Indian business houses have urged the government to make demergers tax-neutral, particularly in cases involving transfer of investments in associate companies with 25 per cent or more shareholding, under the new Income Tax Act. This may possibly help some companies planning to go public, according to a source.
The Finance Minister attributed the large number of defaulters to benign provisions of the Service Tax Act.
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.
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.
India's economy experienced a growth of 7.8 per cent during the October-December quarter of 2025-26, according to the new series of national accounts with 2022-23 as the base year.
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.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Small parties have the capacity to play both ends against the middle. Puducherry could be heading that way, points out Aditi Phadnis.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
The revenue collection till November-end has grown by 67.31 per cent to Rs 4,445 crore from Rs 2,657 crore in the corresponding period of the last year.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
The telecom industry topped the list in service tax collected by paying Rs 1,508.68 crore (Rs 15.09) in FY03. The government raised Rs 4,123 crore (Rs 41.23 billion) in the previous fiscal from service tax.
The 2010-11 Finance Bill, tabled in Parliament, proposed to expand the scope of air transport services 'to include domestic journeys and international journeys in any class' for a 10 per cent service tax.
In a counter affidavit filed in the court, the department has said that temporary transfer of rights to copy in a limited manner will be chargeable to service tax.
A finance ministry official said since the service tax was capped at Rs 100 for domestic and Rs 500 for international travel, in many cases, the credit of tax paid on inputs used to provide services was more than the service tax paid by the airline.
The levy had to come into effect from April 1. It would now be in force from July 1.
The Directorate General of GST Intelligence (DGGI) has uncovered a fake input tax credit racket worth approximately 593 crore in Karnataka, leading to the arrest of the alleged mastermind.
10 stocks from the Nifty 200 index that offer good growth potential and scope to deliver decent returns from current levels, based on brokerage estimates.
Here are the key numbers to watch out for in the Union Budget for 2025-26:
A firm, which managed Prime Minister Narendra Modi's hugely successful Lok Sabha campaign, has come under the scanner of revenue authorities for alleged service tax evasion.
