Finance Minister Nirmala Sitharaman on Sunday proposed to exempt Minimum Alternate Tax (MAT) for non-residents who pay tax on presumptive basis.
Some restaurants and hotels are adding 'service charges'.
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.
India's electric two-wheeler (e2W) manufacturers have urged the government to extend subsidies under the PM E-Drive (Electric Drive Revolution in Innovative Vehicle Enhancement) scheme beyond March 2026, cautioning that a withdrawal could slow near-term demand even as confidence in long-term electric mobility adoption remains intact.
A GST Deputy Commissioner, Prashant Kumar Singh, resigned in protest against Shankaracharya Avimukteshwaranand's remarks against Uttar Pradesh Chief Minister Yogi Adityanath, citing attempts to divide the nation on caste and religious lines.
Seeking to allay fears of traders who have threatened to go on a nationwide strike opposing the service tax, the government on Tuesday said the liability to pay the tax is on goods transport agencies.
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 next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
While this doesn't mean that air travel is now a breeze, what it does mean is that you now have more rights and more control over your money.
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.
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
The new circular issued by the tax research unit of CBEC on June 19 says, "CAG would not be covered by the service head Business Support Service."
Gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, even as sweeping tax cuts slowed down growth in revenues from domestic transactions, according to government data released on Thursday.
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.
Government will get an additional tax of Rs. 2,110 crore from proposed changes.
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 GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
'Despite a challenging FMCG environment, ITC Foods has grown at or above the industry rate.'
Providing relief to exporters hit by the rise in rupee value, the government on Monday announced they would be exempted from tax on services rendered by ports, road transport and railways.
Skoda India is focusing on cleaner fuel options, including CNG and EVs, while compact SUV Kylaq drives volumes, expands first-time buyers and strengthens the brand in India's competitive market
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.
The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League cricket tournament to make them comply with its service tax payment demands.
Budget 2026 is an intentional and ambitious one - From manufacturing growth to services supremacy, from technology consumption to AI-powered transformation. This is the blueprint for a $7 trillion economy built on intelligence, not just scale.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
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.
Get ready to shell out more for your movie tickets, cricket matches or visits to amusement parks as all recreation services will come under service tax later this year.
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).
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
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.
News agencies, which fulfill certain criteria, are to be exempted from payment of service tax, Finance Minister Pranab Mukerjee said on Friday.
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