'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
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 government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
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."
The Associated Chambers of Commerce and Industry of India has sought the restoration of Notification in the Finance Bill 2005-06
After a subdued first quarter of 2025-26 (Q1FY26), banks are now betting big on the festive season, rolling out attractive loan offers to boost credit growth in the second half of the current financial year (H2FY26) - a trend likely to be further accentuated by the second-order effects of the good services tax (GST) cuts.
India's manufacturing sector activity eased in September, as new orders, output and input buying rose at the slowest rates in four months, while job creation retreated to one-year low, a monthly survey said on Wednesday.
Government will get an additional tax of Rs. 2,110 crore from proposed changes.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
The World Bank on Tuesday raised India's growth forecast for the current fiscal to 6.5 per cent from 6.3 per cent estimated earlier, and said the country is expected to remain fastest-growing major economy, underpinned by continued strength in consumption growth.
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.
India's top cement producers delivered a solid July-September quarter (Q2) in 2025-26 (FY26), lifted by firmer prices, higher sales volumes, and a favourable base. Seasonal weakness and maintenance outages did dent sequential performance, but the overall picture remained positive - and the road ahead looks steady.
India's manufacturing sector activity strengthened in October, buoyed by Goods and Services Tax relief, productivity gains and tech investment, even as international sales rose at a weaker pace, a monthly survey said on Monday.
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.
The finance ministry on Tuesday clarified that service tax would be levied only on air-conditioned or air-heated restaurants.
Festivals also contribute to the rise in overall automobile retail sales, says dealers association.
Former IPS officer Amar Singh Chahal allegedly shot himself after claiming he was duped of Rs 8.10 crore by cyber thugs. He was one of the accused in the 2015 police firing cases related to anti-sacrilege protests in Faridkot.
'We operate in an economy that is structurally positioned for long-term growth. As market levels rise over time, our AUM grows in line.'
Investors have put money in Ambuja Cements shares as the cement major has moved to consolidate its operations. The Adani Group company has proposed to merge its subsidiaries ACC and Orient Cement into the parent entity.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
The passing of bills without Parliament, including the treasury benches, having any real understanding of what they contained through any rigorous process has accelerated through the Modi era, points out Aakar Patel.
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
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 Tamil Film Producers Council (TFPC) has resolved to implement a revenue-sharing model for big-budget films, requiring actors and technicians to share profits and losses. The move aims to address financial pressures from declining theatrical and OTT revenues. The TFPC also mandated staggered OTT release windows and formed a committee to ensure access to theaters for smaller films.
Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
A special NIA court in Jammu and Kashmir has ordered the immediate attachment of land belonging to Ghulam Nabi Fai, a US-based Kashmiri lobbyist and convicted agent of Pakistan's Inter-Services Intelligence (ISI).
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
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".
Trent reported decent margins in the second quarter (July-September) of 2025-26 (Q2FY26) but growth moderated. Same store growth was low single-digits. Trent's revenue growth decelerated in Q2FY26 at 17 per cent year-on-year (Y-o-Y) while area additions were offset by decline in revenue per square foot (sq ft).
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
The stock of automotive (auto) components major Bharat Forge has risen 14.6 per cent over the past month. Despite ongoing demand challenges, strong operating performance in the July-September quarter (Q3) of 2025-26 (FY26), a diversified revenue base, and expectations of a gradual recovery have lifted sentiment.
Understanding severance pay isn't just for those who are losing their jobs
India, the world's fourth largest economy, is set to maintain the 'goldilocks' phase with tailwinds of good growth, low inflation and robust banking performance as well as reform initiatives poised to sustain the economic pace witnessed during 2025.
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