The Union Budget, while keeping the service tax rate unchanged at 10 per cent, has expanded its ambit to include services provided by legal consultancy and advisory firms. The tax would, however, not be applicable if the service provider or receiver is an individual.
The Uttar Pradesh STF has arrested a man in connection with a Goods and Services Tax (GST) fraud estimated at Rs 15,000 crore. The accused allegedly used fraudulently obtained GST registrations to create fake firms and generate bogus invoices.
Three disappointing experiences with Tata companies made me question whether the group's historic values of customer focus and accountability are slowly fading, notes Dr N Ravichandran.
TransUnion Cibil CEO Bhavesh Jain highlights the improved retail portfolio quality in January but stresses the need for lenders to continuously engage with borrowers on credit usage and repayment, similar to the approach taken during the Covid-19 pandemic, as the impact of the Iran war on credit quality is still being assessed.
The government said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
India's electric vehicle (EV) market experienced a significant surge in financial year 2025-26 (FY26), with e4W registrations nearly doubling and e2Ws growing by over 20%, propelled by expanding charging infrastructure, diverse model launches, and accessible financing.
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.
A new survey indicates that Indian employers are planning to increase hiring in the April-June quarter, driven by strong business confidence and domestic demand. The survey also highlights the impact of AI adoption on workforce strategy and the challenges of talent scarcity.
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".
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.
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 Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
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.
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.
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
ICICI Bank on Thursday said tax authorities have slapped a demand notice of Rs 238 crore on it for alleged short payment of GST.
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.
State FMs okay list of tax-exempt services with certain riders.
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.
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.
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.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
Any reduction on purifiers would need consensus among state finance ministers.
India Inc on Tuesday sought tax cuts in the forthcoming Budget, even as it asked the government to move towards an effective goods and services tax rate of 15 per cent in the next few years.
10 stocks from the Nifty 200 index that offer good growth potential and scope to deliver decent returns from current levels, based on brokerage estimates.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
Gross GST collection rose at a slower pace of 0.7 per cent in November at Rs 1.70 lakh crore, as domestic revenues declined, according to the government data released on Monday.
The Directorate General of GST Intelligence (DGGI) has uncovered a fake input tax credit racket worth approximately 593 crore in Karnataka, leading to the arrest of the alleged mastermind.
The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
Shares of electric vehicle (EV) maker Ola Electric Mobility fell nearly 7 per cent to a fresh low on Monday after its revenue growth in the third quarter (October-December/Q3) of 2025-26 (FY26) slowed, with analysts warning that any turnaround could be prolonged.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
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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
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
The central government has proposed just two tax rates of 5 per cent and 18 per cent in the revamped Goods and Services Tax (GST), slated to replace the current indirect tax regime by Diwali this year, highly placed sources said.
Gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, even as sweeping tax cuts slowed down growth in revenues from domestic transactions, according to government data released on Thursday.
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.
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