Some restaurants and hotels are adding 'service charges'.
The Indian government has marginally exceeded its indirect tax collection target for fiscal year 2025-26, with strong performances in customs, excise, and GST revenues.
Rental yield can indicate whether a property is undervalued, overvalued or fairly valued.
Voltas has announced a joint venture with Atomberg Innovation to manufacture high-efficiency room air conditioner (RAC) compressors, aiming to strengthen localisation and supply-chain resilience. Despite significant volume growth in RACs, the company's margins remain a key concern for analysts.
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.
The World Bank's "World Development Report 2026" urges developing countries to adopt low-cost AI tools to accelerate progress in healthcare, education, and judicial services. The report highlights AI's potential to boost productivity and improve public services, while noting that jobs in high-income countries are more at risk from automation than those in developing nations.
Prime Minister Narendra Modi has strongly refuted a media report suggesting the government is considering levying a tax, cess, or surcharge on foreign travel, calling the news "totally false".
India's like-for-like gross Goods and Services Tax (GST) revenue growth slowed to a five-year low of 5.57 per cent in FY26, reaching Rs 23.32 trillion, primarily driven by a significant surge in import revenues.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
162 officials of the Trade and Taxes department in Delhi, including three assistant commissioners, were transferred after Delhi Chief Minister Rekha Gupta discovered 'serious irregularities' during a surprise visit.
India's gross Goods and Services Tax (GST) collection reached an unprecedented Rs 2.43 lakh crore in April, marking an 8.7 per cent increase and surpassing the previous record set last year.
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
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."
Cognizant reported a 1.4 per cent year-on-year dip in net profit for the April-June quarter to $636 million, while revenue grew 4.5 per cent to $5.5 billion. The company has also cut the top end of its annual guidance, citing a slowdown in macroeconomic conditions and rising uncertainty.
Government will get an additional tax of Rs. 2,110 crore from proposed changes.
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.
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.
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 data may include details of foreign bank accounts, investment accounts, certain financial investments, interest income, dividends and other specified financial income held by Indian tax residents abroad.
The EPF should remain a retirement nest egg, not be turned into an emergency fund.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
Indian benchmark indices, Sensex and Nifty, opened higher on Friday, primarily driven by a significant surge in Bajaj Finance shares following its strong Q1 FY27 earnings report, coupled with continued foreign fund inflows and a dip in crude oil prices. Track Sensex, Nifty on July 31.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
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".
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.
RBI Governor Sanjay Malhotra stated it is "premature" to discuss the implementation of Merchant Discount Rate (MDR) for digital payments, advising a "wait-and-watch" approach. He emphasised that investment in public payment infrastructure is necessary and someone must bear the cost, whether through taxes or MDR. The government is currently working on amendments to relevant statutes, and the RBI is focused on strengthening this infrastructure.
Indian benchmark indices Sensex and Nifty recorded their third consecutive day of gains, primarily driven by an over 8 per cent surge in Bajaj Finance following strong Q1 FY27 results, coupled with significant foreign fund inflows and a dip in crude oil prices.
News agencies, which fulfill certain criteria, are to be exempted from payment of service tax, Finance Minister Pranab Mukerjee said on Friday.
Earlier, the customer paid service tax on 1 per cent of the premium. From the next financial year, this will go up to 1.5 per cent.
State FMs okay list of tax-exempt services with certain riders.
The remarkable rise of smallcaps reflects the emergence of a broad set of specialised businesses operating in industries where the sectoral tailwinds remain considerably stronger than macroeconomic headwinds, points out Debashis Basu.
The Maharashtra government has approved the deployment of sovereign artificial intelligence solutions from Sarvam AI for its departments, with a two-year outlay of Rs 11.26 crore. This initiative includes the Indus AI workspace for 2,500 users, ensuring government data remains within India, along with citizen outreach agents and speech models for the MahaAI platform.
