The government should exempt micro-insurance from payment of service tax to make products cheaper and encourage penetration of insurance services in low income rural and social sectors, a UN report has suggested.
The Central excise department slapped a notice on King's XI Punjab cricketer Yuvraj Singh seeking payment of service tax to the tune of Rs 1.15 crore raised on his income from two seasons of Indian Premier League (IPL) and endorsements.
Can lead to imprisonment up to seven years.
Prime Minister Narendra Modi has accused opposition parties of obstructing the passage of the women's reservation bill in Parliament, alleging they have crushed the dreams of women and prioritised selfish politics over national progress.
A Delhi court has convicted two CBI officers for assaulting and trespassing into the residence of an Indian Revenue Service officer during a raid over two decades ago.
At present, the service tax rate stands at 12 per cent. Added to this is a 2 per cent education cess, bringing the incidence to 12.24 per cent.
Analysts are increasingly optimistic about India's capital markets, with HDFC AMC, CAMS, and KFin Technologies identified as top investment picks. This optimism stems from a structural shift in household savings towards financial instruments and an expected multi-year earnings expansion for market infrastructure providers and asset management companies.
ICICI Bank on Thursday said tax authorities have slapped a demand notice of Rs 238 crore on it for alleged short payment of GST.
The penalty can be a maximum 50 per cent of the tax.
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
Gross GST collections rose 6.2 per cent to a three-month high of over Rs 1.93 lakh crore in January, indicating increased consumption is making up for rate cuts late last year, sources said on Sunday.
The Central Information Commission has ordered the disclosure of an investigation into a retired IRS officer's alleged acquisition of assets under different identities and subsequent name change to claim ownership, deeming the case a potentially significant revelation.
A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh
In a stern warning to service tax evaders, the government asked them to either pay their dues by tomorrow or face penal action which could include arrest and prosecution.
UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
The government has broadened the ambit of services exempted from service tax for Special Economic Zones as services provided to these zones even from outside would not be taxable.
Restoration of Customs duty on crude oil & rollback of exemptions likely.
Kerala's voters are sophisticated, educated, and unforgiving. They have once again made it clear that no government is entitled to remain in power. The Congress would do well to remember this, points out Ramesh Menon.
The Point of Taxation Rules, first introduced during the Union Budget in February, says service tax, which was so far paid after the collection of dues from clients, would now have to be paid on the 5th or 6th of every month once the invoice for the service was raised.
Bharat Sanchar Nigam Ltd is all set to emerge as a major service tax payer to the central government with the amount expected to touch Rs 1,800 crore (Rs 18 crore) during 2003-04.
Nokia India Ltd, the wholly owned subsidiary of Finnish cellular equipment maker Nokia, on Thursday suffered a legal setback when a tax appellate tribunal ordered it to pay service tax on consultancy services offered by it to the parent company's cli
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
Asked to share details of income from all its 16 zones, especially through tatkal, ticket cancellation and bed roll charges
The finance minister also provided some relief to readymade garment manufacturers by raising the abatement available for levy of taxes on retail price of some branded garments and textile made-ups.
Cigarette-to-soap conglomerate ITC on Thursday reported a consolidated net profit (attributable to owners) of Rs 4,931.19 crore for the third quarter (October-December/Q3) of 2025-26 (FY26), affected by a one-time provision related to the new labour codes and a base effect from an exceptional item in Q3 of 2024-25. In the year-ago period, net profit had stood at Rs 4,934.8 crore.
In the midst of a tax probe into finances of IPL, authorities have issued notices to several sponsors of the first edition of the Twenty20 event, including DLF, Adidas and Religare for non-payment of service tax.
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
A senior Goods and Services Tax (GST) officer has been arrested in connection with the alleged suicide of a junior colleague, who was reportedly facing harassment and pressure to engage in unethical practices.
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment.
Move a step towards goods and services tax.
Common return for excise duty and service tax was envisaged when 119 services were taxed.
