India all-rounder Yuvraj Singh's mother Shabnam on Friday sought to clear the air on reports that the her son owes a whopping 96.43 lakh in service tax on his income from the first and second Indian Premier League season, saying the King's XI Punjab batsman was paid only for playing and not promotional activity.
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.
Prime Minister Narendra Modi on Wednesday renewed his pitch for Make in India across sectors -- from mobiles to semiconductors and electronics, saying the government is accelerating the pace of reforms, offering the best investment opportunities.
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 Finance Minister attributed the large number of defaulters to benign provisions of the Service Tax Act.
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.
PAN mandatory for service tax registration: Fin Min
UBS has turned bullish on emerging markets (EM), including India, as it finds benign macro trends, positive momentum in earnings revisions, and resilient EM currencies helping these economies sustain higher valuations and attracting flows. Among regions, it has upgraded Mainland China to 'attractive' and China Tech to 'most attractive', while downgrading Philippines to 'neutral'.
Indian consumers are entering the festive season with renewed confidence and financial optimism, outpacing global benchmarks, according to Deloitte India's latest Consumer Signals: India Chapter. "With inflationary pressures easing and the recent Goods and Services Tax (GST) revisions enhancing purchasing power and festive cheer among consumers, this brings a new wave of consumption.
The operating performance of the country's largest passenger carmakers, Maruti Suzuki India (MSIL) and Hyundai Motor India (HMIL), in the July-September quarter (Q2) of 2025-26 (FY26) outpaced brokerage expectations.
Only firms that have scale in content and a technology engine that drives its discovery and monetisation can compete,' explains Vanita Kohli Khandekar.
Hindustan Unilever Ltd's (HUL's) second quarter 2025-26 (Q2FY26) consolidated revenue rose 2 per cent to Rs 16,250 crore, with low or flat volume growth. Demand remained stable but goods and services tax (GST) transition and prolonged monsoon hurt offtake.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
The tribunal raised tax demand against several airlines, including Jet.
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.
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 final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
Brokerages expect the company to continue outperforming in the auto segment, driven by launches and the strong trajectory of healthy bookings.
Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
Indian cricket fans, who love turning up for IPL matches across the country, will have to shell out more for tickets next season with government raising the Goods and Services 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 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 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 government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
'High taxes have kept away art collectors who will now embrace the new GST.'
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.
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.
The levy had to come into effect from April 1. It would now be in force from July 1.
Billionaire Mukesh Ambani on Thursday termed the second-generation GST reforms as a big booster to consumption-driven growth while his firm promised to pass on the benefit of the cut in tax rates to consumers.
Amazon India unveiled a dedicated marketplace section highlighting products with reduced tax burdens as the goods and services tax (GST) restructuring took effect on September 22, positioning the ecommerce giant to capitalise on lower consumer prices across electronics, appliances, and other categories. Its rival Flipkart, too, has rolled out its own GST-focused storefront, the GST Bachat Utsav, aimed at helping shoppers maximise benefits from the new tax rates across multiple categories.
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.
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