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Indirect tax collections up 30% to Rs 2.71 lakh crore till July

Indirect tax collections up 30% to Rs 2.71 lakh crore till July

Indirect tax collections rose by 29.9 percent during April-July period of the current fiscal to Rs 2,71,719 crore, mainly due to impressive growth in central excise duty mop-up.

These bollywood movie makers, superstars have been issued service tax notices by CBEC –Know

These bollywood movie makers, superstars have been issued service tax notices by CBEC –Know

Seeking to strengthen compliance and verification, the CBEC issued  notice to top bollywood movie-makers and actors asking them to divulge the details of their income.

The earlier GST Bill is passed, the better for states: FM Jaitley

The earlier GST Bill is passed, the better for states: FM Jaitley

Government on Tuesday urged the Rajya Sabha to pass the GST bill expeditiously to enable states get a share of the Service Tax which is not shared under the provisions of 14th Finance Commission.

Buying a car becomes costlier in India, again!

Buying a car becomes costlier in India, again!

The GDP might be ‘climbing,’ but so are the grain prices; even fuel rates are going through the roof and it’s now time for car buyers to bear the brunt of the Modi government’s policies, again.

 

Cars, air travels, garments, phones, eating out get costlier: Check out the full list

Cars, air travels, garments, phones, eating out get costlier: Check out the full list

With a some of service tax proposals announced during the Union Budget 2016-17 coming into effect from today (June 1), a series of products and services such as cars, cigarettes, branded garments and air travels have also become costlier.

Cash purchase of goods, services over Rs 2 lakh to attract 1% tax

Cash purchase of goods, services over Rs 2 lakh to attract 1% tax

Payment in cash for buying goods and services worth more than Rs 2 lakh with the exception of jewellery will attract 1 percent tax collected at source (TCS) from Wednesday.

Tax Authority extend last date for filing Service Tax 3 form

The last date for filing of Service Tax-3 form has been extended to April 29 in face of difficulties faced by tax payers with regard to Automation of Central Excise and Service Tax (ACES) website by the tax authorities

Service tax dept to auction Mallya's aircraft 'very shortly'

Service tax dept to auction Mallya's aircraft 'very shortly'

The service tax department will "very shortly" auction liquor baron Vijay Mallya's aircraft to recover dues estimated at nearly Rs 535 crore, a senior finance ministry official said on Saturday.

Delhi HC stays levy of service tax on senior advocates

Delhi HC stays levy of service tax on senior advocates

The Delhi High Court today passed an interim order staying the Centre's notifications providing for levy of 14.5 percent service tax on senior advocates from today onwards.

Service tax increased to 15% from Friday

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'1% TCS on cars above Rs 10 lakh may impact ease of doing biz'

The one percent tax collection at source (TCS) on luxury cars priced above Rs 10 lakh announced by Finance Minister Arun Jaitley in the Budget 2016-17 could impact ease of doing business, according to home-grown auto major Mahindra & Mahindra.

Budget 2016: Service tax to be levied on transfer of spectrum

Budget 2016: Service tax to be levied on transfer of spectrum

Providing clarity on spectrum trading deals, Finance Minister Arun Jaitley Monday said right to use spectrum and its subsequent transfer is a service which will attract service tax.

Budget 2016: Arun Jaitley withdraws tax exemptions from host of services

Budget 2016: Arun Jaitley withdraws tax exemptions from host of services

Finance Minister Arun Jaitley Monday announced withdrawal of tax exemptions from a host of services including those provided by lawyers to other advocates, including on arbitral tribunals, even as he exempted financial regulators and others from service tax.

CommMin pushes for service tax exemption for exports in Budget

To boost waning exports, the Commerce Ministry has suggested that exporters be exempted from payment of service tax in the upcoming Budget.

Government plans to increase service tax

In the new budget, the government planning to increase the limit of service tax which would give a major relief in service tax to the small businesses.

MakeMyTrip under scanner for Rs 75 crore alleged tax evasion

MakeMyTrip under scanner for Rs 75 crore alleged tax evasion

The Directorate General of Central Excise Intelligence (DGCEI) has registered a case against the online travel services provider for allegedly not depositing service tax which it had collected from the customers, official sources said.

Govt may lower long-term capital gain tax for unlisted companies

Govt may lower long-term capital gain tax for unlisted companies

Government Saturday hinted at lowering the long-term capital gain tax on investments made in unlisted firms, particularly startups, in the Budget for the next financial year, to bring them closer to the levels prevalent for the listed companies.

Indirect tax collection grows by 34% in Apr-Nov period

Reflecting improvement in industrial activities, indirect tax collection jumped 34.3 percent to Rs 4,38,291 crore during the first eight months of current financial year.

Govt sets 5-day timeline for 80% service tax refund

The move will speed up sanction of the refund accumulated CENVAT credit to exporters of the services.

Pay more for leisure and entertainment from Nov 15

Pay more for leisure and entertainment from Nov 15

Your weekends are set to pinch your pockets more as Swachh Bharat Cess is set to increase the tax on services you avail, many of them in the ambit of leisure and entertainment