The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
SBI General Insurance aims to achieve a 10 per cent market share among private and standalone health insurers within approximately five years, up from its current 7.17 per cent, said Naveen Chandra Jha, managing director and chief executive officer, SBI General Insurance.
The 5per cent service tax (effectively on whole amount) on services on Private hospitals with 25 or more beds have central air-conditioning facilities and to diagnostic tests of all kinds make the health services costlier to the patients as the hospitals tend to pass the same to the patients.
'Refined carbohydrates are the quiet troublemaker in our diet.' 'We eat plenty of calories, but not enough nutrition.'
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 Central Excise Department said it has slapped service tax of Rs 6 crore on the Preity Zinta co-owned KPH Dream Cricket, which is part owner of IPL franchise Kings XI Punjab.
The Punjab Assembly has passed the Punjab Prisons and Correctional Services Bill, 2026, to modernise the prison system, and the Societies Registration (Punjab Amendment) Bill 2026, to enhance transparency and accountability of societies.
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
The Finance Minister attributed the large number of defaulters to benign provisions of the Service Tax Act.
PAN mandatory for service tax registration: Fin Min
Service tax on AC class train fare will not be realised on tickets purchased before October 1 as railways modified its earlier decision on it.
Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
Apparently buckling under pressure, the government has decided to exempt cable multi-system operators (MSOs) from the service tax net.
Following regulatory action against Paytm Payments Bank Ltd (PPBL), Paytm strategically separated its core operations, a move praised by analysts for preserving business continuity and governance. This separation has enabled Paytm to sustain growth and improve profitability.
The tribunal raised tax demand against several airlines, including Jet.
As Prime Minister Narendra Modi urges Indians to travel less, rising fuel prices are already changing driving habits.
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.
The Revenue Department has extended the deadline by one month to November 25 for filing of service tax returns for the April-June quarter, as it has not been able to provide electronic return form in time.
The revenue collection till November-end has grown by 67.31 per cent to Rs 4,445 crore from Rs 2,657 crore in the corresponding period of the last year.
The telecom industry topped the list in service tax collected by paying Rs 1,508.68 crore (Rs 15.09) in FY03. The government raised Rs 4,123 crore (Rs 41.23 billion) in the previous fiscal from service tax.
The 2010-11 Finance Bill, tabled in Parliament, proposed to expand the scope of air transport services 'to include domestic journeys and international journeys in any class' for a 10 per cent service tax.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
Indian stock markets saw a significant rebound, with the Sensex jumping nearly 790 points, primarily fuelled by strong buying interest in telecom, pharma, and private banking shares, despite a volatile trading session and a weakening rupee.
The Central Information Commission has ruled that the Board of Control for Cricket in India does not qualify as a 'public authority' under the Right to Information Act, effectively placing it outside the scope of RTI disclosures.
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.
In a counter affidavit filed in the court, the department has said that temporary transfer of rights to copy in a limited manner will be chargeable to service tax.
A finance ministry official said since the service tax was capped at Rs 100 for domestic and Rs 500 for international travel, in many cases, the credit of tax paid on inputs used to provide services was more than the service tax paid by the airline.
The levy had to come into effect from April 1. It would now be in force from July 1.
The Labour and Employment Ministry has requested the Finance Ministry to keep Employee State Insurance and Employee State Insurance schemes out of the ambit of service tax as they are social security schemes.
Finance minister Pranab Mukherjee included some more services within the service tax ambit in the Budget 2009-10.
A firm, which managed Prime Minister Narendra Modi's hugely successful Lok Sabha campaign, has come under the scanner of revenue authorities for alleged service tax evasion.
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.
Hinting at the possibility of the Budget proposal for imposition of service tax on 25-bed hospitals and diagnostic check-ups being rolled back, the government has said it is willing to discuss the issue.
On the lines of the proposed Direct Taxes Code (DTC), the government plans to come out with a Common Tax Code (CTC) for service tax and central excise duty to harmonise the two indirect levies.
A BA spokesperson maintained that the airline 'has not evaded any taxes.' The revenue department had in July served service tax notice on the airline for payment of balance out of the Rs 143.5 crore (Rs 1.43 billion) liability on tickets sales in India between May 2006 and November 2007, but BA did not pay the amount.
