Service Tax Dept to focus on 5 evasion prone sectors

"With a view to improve collection, the Service Tax department has prepared sector specific profile of five sectors which are prone to evasion," a senior official told PTI.

CBEC must aim at 22% growth in service tax collection: Das

Concerned over low service tax realisation, Revenue Secretary Shaktikanta Das Monday asked the CBEC (Customs, Central Excise and Service Tax) to analyse revenue mop-up sectorally and ensure that it grows by 20-22 percent in the fiscal.

In run-up to GST, FinMin rechristens Service Tax directorate

Even as the Modi government is yet to cross the Parliamentary hurdle before it can roll out a uniform tax regime, it has rechristened Mumbai-based Directorate General of Service Tax as Directorate General of Goods and Service Tax (DGGST), and shifted it to Delhi.

Indirect tax revenue surges 37% to Rs 2.1 lakh crore in Apr-Jul

Indirect tax revenue jumped over 37 percent to over Rs 2.1 lakh crore during April-July period of current fiscal, on the back of higher excise collections.

Service tax liability on mutual funds, not their agents

In a big relief to mutual fund agents, the government has said that distributors will not have to pay tax on services provided by them and the liability in this regard would entirely be on the fund houses.

Foreign airlines under scanner for alleged Service Tax evasion

Six foreign airlines have come under the lens of revenue authorities here for alleged underpayment of Service Tax believed to be worth several crores.

New norms for manual scrutiny of service tax returns from August

Central Board of Excise and Customs (CBEC) will start detailed manual scrutiny of service tax returns of assessees based on risk parameters under modified norms from August 1.

Service charge collected by hotels is not service tax: FinMin

The government Tuesday clarified that "service charge" collected by certain restaurants and hotels is not "service tax", which is levied at a rate of 5.6 percent on the total bill.

Don't impose service tax on overflights: IATA

India should not apply service tax on overflights by foreign airlines, extra baggage, global distribution systems and international tickets, world airlines body IATA said Tuesday, as it suggested smarter regulation to make it easier for the industry to do aviation business here.

Manual scrutiny of Service Tax returns from Aug 1: CBEC

The assessees who are subject to service tax audits would not be covered under the detailed scrutiny programme.

India Inc needs be active before finalisation of tax proposals

"The senior functionaries in government engaged and involved with policy making are much more receptive in modern times as compared to 15-20 years ago and therefore, can suitably accommodate industry's inputs along with its perspective in the final policy document to plug possibilities of faltering and making unintended mistakes," he said.

Service tax only in AC restaurants; effective rate 5.6%

Restaurants, eating-joints or messes, which do not have the facility of air-conditioning or central-heating in any part of the establishment are exempt from service tax.

Effective Service tax rate on AC restaurant bills 5.6%: Finance Ministry

The effective incidence of service tax on food bill in air-conditioned restaurants willbe 5.6% now

Service Tax: Penalty norms encouraging voluntary compliance

In case of voluntary payments along with interest, reduced penalty have been provided depending upon the stage of litigation i.e. Prior to issuance of show cause notice, after issuance of show cause notice but before adjudication or after adjudication.

PAN card gets costlier by Re 1 after service tax hike

Getting a new PAN card has become costlier by a rupee in the wake of government hiking service tax rate to 14 percent beginning this month.

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Hike in service tax NDA's anniversary gift to people: Congress

 Congress on Monday dubbed as Modi government's "anniversary gift" to people the increase in service tax rates and insisted that the move was "fundamentally inflationary".

How will the new service tax rate affect your life?

People will have to shell out more from June 1 while using mobiles, eating out and travelling as the service tax rate goes up to 14%.

Service tax rate of 14% comes into effect from today

People will have to shell out more from June 1 while using mobiles, eating out and travelling as the service tax rate goes up to 14%.