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.
Will have to pay 12% tax besides 3% education cess.
Prime Minister Narendra Modi lauded the GST Council's overhaul of the Goods and Services Tax (GST) regime, calling it 'GST 2.0' and a significant boost for national growth. He highlighted the simplification of the tax system and the introduction of new rates.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
The bumper rise is due to the rising demand for the drug and patients' gradual shift towards its higher dosage.
'Non-compatible with Western Civilization' is about as vague and jingoistic as it gets and Trump saying this gives full license to his acolytes to go full throttle on making life as difficult and scary as possible for as many non-white people as possible,' notes Sree Sreenivasan.
'It will support our growth aspirations. It's very positive as it helps expand the market in a segment that really needs it.'
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.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
FM is likely to introduce tax return prepares scheme for small service tax payers in the upcoming budget.
Under the service tax law, certain services get exemptions.
'Last year, we had about 10 to 12 per cent of Hollywood films as a box-office contribution. This year already, it has jumped up to 24 per cent because the lineup is very strong.'
'Buy early and review the sum insured regularly.'
'Combining individual or family policies with corporate cover, along with top-ups and wellness programmes, can help maintain strong health protection throughout life.'
While participants in the domestic financial market are expecting a 25 basis-point policy repo rate cut in the December meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), economists remain torn between a reduction in rate cut and a pause.
The meeting is likely to be attended by a number of leading developers, including realty firms DLF and Unitech.
The Union civil aviation ministry would take up the issue with the finance ministry, Patel said, expressing the hope that the latter would respond favourably to the civil aviation ministry's representation.
Punj Lloyd voluntarily deposited Rs 1.06 crore (Rs 10.6 million) on the spot through challans when excise officials visited them during an investigation in the matter.
Mahindra & Mahindra on Tuesday posted a 28 per cent year-on-year increase in its consolidated profit after tax to Rs 3,673 crore for the second quarter ended September 30, 2025, driven by robust performance of the farm sector, while also seeing the impact of the GST transition on the auto sector. The company reported a profit after tax (PAT) of Rs 2,867 crore for the July-September period of the last fiscal.
The finance ministry is considering meeting a key demand of truckers by easing procedural issues and raising the abatement on service tax.
The 18 per cent tax slab is expected to remain the major contributor to GST revenues if the Centre's proposal for a two-tier GST structure and a special 40 per cent rate is implemented, according to a source. At present, the Goods and Services Tax (GST) follows a four-tier structure with rates of 5 per cent, 12, 18, and 28 per cent.
According to sources in the Excise department, the Sahara Airlines, while submitting opinion of its Chartered Accountant on service tax, had allegedly backdated it to 2003 in which it was stated that Rs 1442 crore (Rs 14.42 billion) income from advertising services provided to its group company was not taxable under advertising services.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
Fitch Ratings on Monday affirmed India's sovereign rating at 'BBB-', with a stable outlook, saying a strong record of delivering growth and improving fiscal credibility will drive improvements in structural metrics. "India's ratings are supported by its robust growth and solid external finances," Fitch said, as it forecast GDP growth of 6.5 per cent in the fiscal year ending March 2026 (FY26), unchanged from FY25, and well above the 'BBB' median of 2.5 per cent.
The revenue department is expected to release two circulars mentioning details of all 100 services under the service tax net and related procedures in a simplified manner by mid-June.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
The ministry of civil aviation will seek a complete rollback of service tax levied on domestic air travel in the recent Budget, Civil Aviation Minister Praful Patel said on Wednesday.In his Budget speech on February 26, Finance Minister Pranab Mukherjee had proposed a service tax of 10 per cent on both domestic and international travel. Earlier, the service tax was restricted only for international travel.
Economic think-tank NCAER has said that service tax will go up by one per cent per annum in the next four years, following the government's decision to introduce goods and services tax from April 1, 2010.
'It must become faceless, just as the entire direct tax assessment system has already become fully online, without any human intervention in the normal course,' recommends A K Bhattacharya.
Announcement of an increase in prices will dampen the affordable housing business at a time when realtors already face razor-thin margins.
Since the Indian government reduced GST on small cars on September 22, the small car segment's share in Maruti's overall sales has risen to more than 25 per cent, up from 16.6 per cent earlier in FY26.
May adopt dtrict action including prosecution and property attachment.
Packaged food major Nestle India posted better than expected September quarter results led by strong volume growth across its key segments. While there were margin pressures due to elevated raw material costs, there could be some relief with easing prices in the near term.
The finance ministry is likely to raise the exemption limit for service tax from Rs 400,000 to Rs 10 lakh (Rs 1 million) in the forthcoming Budget.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
'They are a poor fit for anyone with near-term goals, low volatility tolerance, or a need for steady income or liquidity.' 'First-time investors should typically avoid them.'
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