Service Tax

GST to be positive for auto, retail; negative for SMEs: Fitch

GST to be positive for auto, retail; negative for SMEs: Fitch

New indirect tax regime GST is likely to be beneficial for auto, cement and organised retail sectors, but will have a negative impact on oil and gas, and SME sectors, Fitch Ratings said on Tuesday.

Jul 18, 2017, 13:40 PM IST
1.6 lakh new businesses register on GSTN in 4 days

1.6 lakh new businesses register on GSTN in 4 days

As many as 1.6 lakh businesses that were previously not registered for either VAT, service tax or excise duty have enrolled for Goods and Services Tax (GST) in the past four days.

Jun 29, 2017, 14:57 PM IST

Ordinance likely to amend SEZ Act for alignment with GST

Certain provisions in the special economic zone (SEZ) Act, 2005, are not consistent with the GST regime and need to be made compatible before the July 1 rollout date.

Jun 24, 2017, 11:28 AM IST
GST: Credit card bill, insurance premium to get costlier

GST: Credit card bill, insurance premium to get costlier

Credit card providers, banks and insurers have started alerting their customers to pay higher tax post implementation of Goods and Services Tax (GST) from July 1.

Jun 20, 2017, 17:42 PM IST
'GST to help in better description of GDP'

'GST to help in better description of GDP'

The Goods and Services Tax, to be implemented from next month, will be an exciting development from data point of view and help provide a more complete description of the economic activity, Chief Statistician T C A Anant has said.

Jun 04, 2017, 11:35 AM IST
GST Council meets to fit rates, states come up with wish-list

GST Council meets to fit rates, states come up with wish-list

The all-crucial meeting of the GST Council to fix tax rates for goods and services got under way here Thursday, with states pitching for their preferred rates for select items.

May 18, 2017, 13:46 PM IST

Govt extends service tax return filing date to Apr 30

The Centre has extended the last date for filing service tax return by five days to April 30, in a relief to lakhs of service providers.

Apr 27, 2017, 16:31 PM IST
Centre, states taxmen to decide services rate in GST this week

Centre, states taxmen to decide services rate in GST this week

Tax officials of the central and state governments will this week hold their maiden meeting on devising a formula for tax rate to be levied on services under the Goods and Services Tax (GST) regime from July 1.

Apr 16, 2017, 12:32 PM IST

Service tax to move up from 15% to 18% under GST: Hasmukh Adhia

Services sector is likely to attract a higher tax rate of 18 percent from the current 15 percent under the Goods and Services Tax (GST) regime.

Apr 13, 2017, 14:07 PM IST
Govt exceeds FY17 tax collection target at Rs 17.10 lakh cr

Govt exceeds FY17 tax collection target at Rs 17.10 lakh cr

The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore.

 

Apr 04, 2017, 13:07 PM IST
 SBI announces penalty for non-maintenance of minimum balance from April 1

SBI announces penalty for non-maintenance of minimum balance from April 1

Making it compulsory for account-holders to maintain a minimum balance, the State Bank of India (SBI) said on Thursday said it will be charging defaulters a penalty from April 1 onwards.

Mar 03, 2017, 19:55 PM IST
Budget 2017: FM Arun Jaitley may hike service tax to 16-18%

Budget 2017: FM Arun Jaitley may hike service tax to 16-18%

As a precursor to the Goods and Services Tax (GST) rollout, Finance Minister Arun Jaitley is likely to hike service tax to 16-18 percent from the present 15 percent in the upcoming budget.

Jan 29, 2017, 20:13 PM IST
Travel, eating out, mobile bills likely to get more expensive from April 1

Travel, eating out, mobile bills likely to get more expensive from April 1

Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move up from the existing 15 percent) inclusive of Krishi Cess and Swach Bharat Cess).

Jan 29, 2017, 16:18 PM IST

Finance minister may make big changes in service tax

Finance minister may make big changes in service tax. Watch this special segment and get to know more here.

Jan 26, 2017, 15:52 PM IST
GDP may slow down if GST implemented in hurry: Tax officials to FM

GDP may slow down if GST implemented in hurry: Tax officials to FM

Claiming that demonetisation has affected country's growth, a major central revenue body has asked Finance Minister Arun Jaitley not to implement Goods and Services Tax (GST) in a hurry and threatened to take legal recourse in case their concerns are not addressed.

Jan 22, 2017, 14:10 PM IST
Rail fares, eating out, mobile bills likely to get more expensive from April 1

Rail fares, eating out, mobile bills likely to get more expensive from April 1

Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move north  from the existing 15 percent( inclusive of Krishi Cess and Swach Bharat Cess).

Jan 20, 2017, 15:14 PM IST
Budget 2017 Wishlist: Travel and tour operators seek tax sops for inbound tours

Budget 2017 Wishlist: Travel and tour operators seek tax sops for inbound tours

Expecting attractive sops from the impending union budget, travel and tour operators have asked the government to exempt service tax on foreign exchange earned on inbound tours in the upcoming Budget.

Jan 16, 2017, 20:46 PM IST
Jaitley looks to break deadlock at GST meeting on Monday

Jaitley looks to break deadlock at GST meeting on Monday

Finance Minister Arun Jaitley will tomorrow look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April.

Jan 15, 2017, 14:01 PM IST

Service tax in restaurants is not legitimate, says government

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Jan 11, 2017, 23:58 PM IST

Service charge in restaurants to now be paid according to customer discretion, says govt

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Jan 03, 2017, 13:04 PM IST