The Haj Committees and Kumaon Mandal Vikas Nigam Ltd, which organise the religious pilgrimages will not have to Service Tax.
Envisaging a wider role for professionals, Company Secretaries have asked the government to make mandatory issuance of a service tax compliance certificate by companies.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
The government seems to be contradicting its earlier clarification that "computer-enabled services, namely, back office processing, shall not be subject to service tax", opines Sachin Menon and Prasad Paranjape.
Facing an annual loss of a whopping Rs 300 crore (Rs 3 billion), shipowners have pleaded with the finance ministry to keep them out of service tax net and exempt them from withholding and fringe benefit taxes.
India's electric passenger vehicle market saw an 87.4 per cent year-on-year increase in FY26, reaching 233,246 units, primarily driven by the mid-size SUV segment (20-30 lakh price bracket), while the entry-level segment (sub-10 lakh) experienced a decline.
Telecom czar Sunil Bharti Mittal plans to hand over the reins of Bharti Airtel to his children in the next decade and desires that promoter firm Bharti Telecom regains over 50 per cent stake in the company.
Godrej Consumer Products Ltd (GCPL) delivered a robust Q4FY26 performance, with steady demand in India and signs of stabilisation in international markets, despite persistent inflationary pressures. The company expects to maintain profitability in FY27 through strategic cost management and pricing adjustments.
Dabur India's shares rose 3.7 per cent after reporting in-line Q4FY26 results, driven by a healthy 10 per cent growth in its India business, despite some analysts remaining cautious about future execution.
The Supreme Court on Wednesday rejected the Board Of Control For Cricket In India's plea against a tribunal order asking it to pay around Rs 18 crore as service tax for video graphing matches and selling the feed to private sport channels.
The government is considering to enact Service Tax Act and is likely to allow states to levy the tax on local items after nationwide value-added tax is introduced, a senior official of Central Board of Excise and Customs said on Thursday.\n\n\n\n
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
The local chapter of Indian Chamber of Commerce and Industry in Coimbatore has again appealed to the Centre to reconsider the imposition of service tax on goods transportation.
Ministry will give relief to exporters through a mechanism that will enable a timely refund of credit balance and time-bound refund of additional duty of customs.
Indian carmakers experienced a robust start to the new fiscal year, with an estimated 4.5 lakh passenger vehicles sold in April, marking a 27 per cent increase year-on-year, attributed to factors like GST 2.0, repo rate cuts, and income tax benefits.
India's gross GST collection increased by 8.1 per cent to over Rs 1.83 lakh crore in February, driven by higher import revenues and improved domestic sales. Despite some states reporting negative or below-average growth, experts see the overall trend as a sign of a maturing tax ecosystem and a confident domestic market.
The levy will be 10%, with an abatement of 50%, effectively bringing down the service tax levy to 5% on the tariff.
India's services sector growth witnessed the slowest pace of expansion in five months in October, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey released on Thursday.
'What we are witnessing is a massive anti-incumbency wave that has cut across all social and political divides.'
India's rapidly ageing truck fleet, with 42% of vehicles over 12 years old, is set to trigger a replacement-driven growth of 3-5% annually over the next five years.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
Infosys shares experienced a significant drop, hitting a 52-week low, after the company announced its Q4FY26 results and provided a modest revenue growth guidance of 1.5-3.5 per cent in constant currency for FY27, falling below market expectations and raising concerns about AI-led deflation and margin pressures.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
India's passenger vehicle (PV) industry is projected to experience moderated growth in FY27, following a strong rebound in H2FY26, primarily due to the high base effect, absorbed pent-up demand, and the lingering impact of geopolitical tensions in West Asia.
All services on the income-tax e-filing portal -- both pre-login and post-login -- are expected to be updated by April 1 to reflect the new legal framework.
The Confederation of All India Traders on Monday demanded the withdrawal of service tax on traders and threatened to go on a nationwide agitation if the demand was not met.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
'In India's case, an extended earnings slowdown accompanied by rich valuations have dimmed returns since late 2024.'
Telephone use, eat-outs and other activities will cost more.
HDFC Life Insurance reported a 4 per cent year-on-year increase in net profit to Rs 495.6 crore for Q4FY26, while its parent, HDFC Bank, announced a Rs 1,000 crore preferential share issuance to raise its stake to 50.5 per cent.
The government has rationalised the service tax liability on sellers and distributors of lottery tickets by giving them the option to pay tax at flat rate based on the face value of tickets.
TDS has been successfully used for direct taxes like the income tax.
In a representation to the ministry of finance, it has demanded that labour-intensive security agencies should no longer be enlisted under the category of service providers and brought under the category of auxiliary service providers so that they could avail of tax benefits.
The authority has termed it an unfair trade practice under the Consumer Protection Act, 2019, pointing out that only applicable taxes can be added to the price mentioned in the menu.
Tata Consultancy Services (TCS) announced a 12.22 per cent increase in its net profit for the March quarter, reaching Rs 13,718 crore, alongside a 9.64 per cent rise in revenue from operations.
The finance ministry is instead thinking of expanding the list of services on which the tax would be levied under the reverse charge mechanism.
