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Service Tax News

13 Jan 2024

Decoding Budget Terms: What Is Indirect Tax? Definition, Types, And More

Indirect tax is a kind of tax that can move from one place to another.

Indian Railways

03 Jul 2022

Shatabdi Express passenger pays Rs 50 on tea worth Rs 20, IRCTC faces backlash

A rail passenger was fuming after being asked to pay Rs 70 for a cup of tea The bill mentioned the price of the tea as Rs 20 on which a service fee of Rs 50 was charged The passenger tweeted the picture where he was charged 250 percent of the price

09 Jun 2022

DNA: What are your rights on service charge?

The Government of India has said only customers can decide whether they want to pay the service charge or not. In hotels and restaurants, this service charge cannot be taken from the customers forcibly or without informing.

09 Jun 2022

DNA: Explained -- Difference between service charge and service tax?

The Government of India's Department of Consumer Affairs has said that service charges cannot be collected from hotels and restaurants against the wish of the customers. Understand the difference between service charge and service tax from this report.

18 Jul 2017

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.

Goods and Services Tax

29 Jun 2017

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.

24 Jun 2017

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.

30 Jun 2017

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.

04 Jun 2017

'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.

18 May 2017

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.

service tax return

27 Apr 2017

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.

16 Apr 2017

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.

13 Apr 2017

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.

04 Apr 2017

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.

State Bank of India

03 Mar 2017

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.

29 Jan 2017

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.

29 Jan 2017

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).

Finance Minister

26 Jan 2017

Finance minister may make big changes in service tax

22 Jan 2017

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.

20 Jan 2017

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).

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