Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
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 Centre has proposed exempting life and health insurance policies for individuals from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST.
Reliance Industries Ltd (RIL) on Friday reported a 9.6 per cent year-on-year rise in net profit for the September quarter, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment.
Supporting the striking truck operators, the National Democratic Alliance on Wednesday asked the government to withdraw the proposed service tax on transport booking agents.
Multiple tailwinds for the automobile sector, including a cut in goods and services tax (GST) rates, are keeping analysts bullish on auto stocks from a long-term perspective, even as they see the rally running its course in the near term.
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 Finance Minister attributed the large number of defaulters to benign provisions of the Service Tax Act.
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.
PAN mandatory for service tax registration: Fin Min
Amazon India is repositioning itself as a comprehensive business partner rather than just an e-commerce platform, slashing seller fees and introducing artificial intelligence-powered tools ahead of the country's crucial festive shopping season that could determine the year's retail performance.
Several fast-moving consumer goods (FMCG) companies have said that they would pass on the full benefit of goods and services tax (GST) rate cuts to consumers starting September 22. Dairy major Mother Dairy, on Tuesday, announced rate cuts in products spanning its portfolio-- from milkshakes to paneer and jams to frozen products under its Safal brand.
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
The tribunal raised tax demand against several airlines, including Jet.
'We expect this festival buying spirit to continue in October as well, with upcoming festivities including Dhanteras and Diwali, which traditionally witness spirited buying from customers.'
Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
Apparently buckling under pressure, the government has decided to exempt cable multi-system operators (MSOs) from the service tax net.
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.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
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.
Leading automakers Maruti Suzuki, Hyundai, Mahindra, and Tata Motors saw a dip in dispatches to dealers in August amid dip in demand with many prospective buyers postponing their buys anticipating a reduction in vehicle prices on account of the new GST framework. The country's largest carmaker Maruti Suzuki India reported an 8 per cent year-on-year dip in dispatches of passenger vehicles in the domestic market last month.
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.
Congress MP Shashi Tharoor on Sunday said the Special Intensive Revision (SIR) exercise being conducted by the Election Commission of India (ECI) was 'essential', as electoral rolls were not perfect.
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.
India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India chairman R C Bhargava said on Thursday. "It is our duty as Indians to do our very best to promote and maintain our dignity and respect and not give in to any kind of bullying in this matter... the nation has to stand united," Bhargava said at the company's 44th Annaul General Meeting in New Delhi.
The court upheld the guidelines and imposed Rs 1 lakh cost each on the petitioners to be deposited with the CCPA towards consumer welfare.
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 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.
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.
From the Sensex firms, Infosys climbed 3.86 per cent. HCL Tech, Tata Consultancy Services, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra were also among the gainers. However, Eternal, UltraTech Cement, Bharti Airtel and Adani Ports were among the laggards.
The levy had to come into effect from April 1. It would now be in force from July 1.
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