'Service tax hike to make hotel rooms more expensive'

The government's decision to increase service tax to 12 percent will make hotel tariffs more expensive, and will have an impact on overall occupancy and business for hotel companies, leading hoteliers said on Thursday.

Budget may weaken government's credit profile: Moody's

India's Budget for 2012-13 lacks new solutions to address the fiscal constraints the government is facing and may weaken its credit profile, global credit rating agency Moody's said Monday.

Sops and imposts in Budget; net revenue gain of Rs 41,440 cr

In a mix of sops and imposts, the General Budget Friday proposed a marginal raise in income tax exemption limit of Rs 20,000 but hiked service tax and standard excise duty by 2 percent across the board to net an additional Rs 41,440 crore a year.

Ieema seeks extended tax holiday for power projects

Ahead of the Budget, the apex body of the domestic electrical equipment industry Ieema Wednesday sought extension of the tax exemption to all power projects, including generation, transmission and distribution.

CII asks FinMin not to increase excise, service tax in Budget

Industry body CII Sunday asked Finance Minister Pranab Mukherjee to retain the current rates of excise and service tax in the Union Budget 2012 to boost investments.