Service charge collected by hotels is not service tax: FinMin

Last Updated: Tuesday, July 14, 2015, 17:12

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

Last Updated: Tuesday, July 14, 2015, 14:54

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

Last Updated: Friday, July 10, 2015, 22:49

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

Last Updated: Friday, June 19, 2015, 15:58

"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.

Govt cancels 22 SEZs, gives more time to 27 to execute projects

Last Updated: Wednesday, June 17, 2015, 15:45

The government has cancelled approvals of 22 special economic zones, including that of Tamilnadu Industrial Development Corporation and True Developers, as no "satisfactory" progress was made to execute the projects.

Service tax only in AC restaurants; effective rate 5.6%

Last Updated: Tuesday, June 9, 2015, 16:59

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.

States demand full compensation for 5 years after GST rollout

Last Updated: Thursday, June 4, 2015, 21:08

States Thursday pressed for Centre compensating fully for the loss of revenue in the first five years of GST replacing their taxes, a position that may create hurdle in plans for roll out of new tax regime from next year.

State FMs to meet Thursday to discuss GST rate

Last Updated: Wednesday, June 3, 2015, 22:52

The Empowered Committee of State Finance Ministers, headed by K M Mani, will meet here Thursday to deliberate on the revenue neutral rate, besides other issues, for smooth roll out of Goods and Services Tax (GST).

Service Tax: Penalty norms encouraging voluntary compliance

Last Updated: Wednesday, June 3, 2015, 18:29

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

Last Updated: Tuesday, June 2, 2015, 21:59

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.

GST will have double positive impact in transport sector: Study

Last Updated: Tuesday, June 2, 2015, 17:44

The ambitious Goods and Services Tax (GST) would help the transportation sector in improving its efficiency besides reducing the logistics cost, a study has said.

Higher service tax comes into effect; eating out, travel and mobile become expensive

Last Updated: Monday, June 1, 2015, 08:38

The government's proposal to increase the rate of service tax from 12.36 percent (including education cess) to 14 percent has come into effect from Monday.