Service Tax

Income Tax Department Launches Online Chat to Answer Taxpayer Queries

Press Trust of India | Wednesday October 18, 2017

"A team of experts from the department and independent tax practitioners has been deputed to answer the general queries of a taxpayer."

Slowdown Effect Of GST, Notes Ban Has Played Out: Arun Jaitley

India News | Indo-Asian News Service | Friday October 13, 2017

Finance Minister Arun Jaitley today said the slowdown effect of demonetisation and GST roll-out on the Indian economy has played out and the country's growth is now headed towards being more balanced and sustainable.

File GST Returns By Diwali, Says Government

Indo-Asian News Service | Friday October 13, 2017

The GSTR-3B return is a self-assessment by businesses of their sale and purchases during the month.

Maharashtra, Gujarat, Himachal Cut VAT, Fuel To Get Cheaper

India News | Indo-Asian News Service | Tuesday October 10, 2017

Maharashtra, Gujarat and Himachal Pradesh today announced cuts in Value Added Tax (VAT) on petrol and diesel, effective from midnight, to bring down fuel prices in the three states.

Virbhadra Singh To Be Congress's Chief Minister Candidate For Himachal Pradesh Polls: Rahul Gandhi

India News | Press Trust of India | Saturday October 7, 2017

Kicking off Congress' campaign in poll-bound Himachal Pradesh, its Vice President Rahul Gandhi today announced that incumbent Chief Minister Virbhadra Singh will be the party's chief ministerial candidate. Addressing a rally at Paddal ground, Mr Gandhi also targeted Prime Minister Narendra Modi on the issue of unemployment, demonetisation and "hast...

Deadline To File Transitional Credit Under GST Extended Till October 31

Business | Indo-Asian News Service | Friday September 22, 2017

For the time being, taxpayers can breathe a sigh of relief, said an expert.

GST On Petrol, Diesel Requires Wider Discussion: Bihar Chief Minister Nitish Kumar

India News | Press Trust of India | Monday September 18, 2017

Bihar Chief Minister Nitish Kumar today said the issue of implementing the Goods and Services Tax (GST) on petrol and diesel requires a wider discussion in the GST Council.

Taxman Asked To Include Service Charge In Tax Assessment

Business | Indo-Asian News Service | Thursday September 14, 2017

The Centre had sent the guidelines to the Federation of Hotel and Restaurant Associations of India (FHRAI), National Restaurant Association of India (NRAI) and Hotel Association of India (HAI).

Assets Of 7 MPs, 98 Legislators Don't Match Income, Supreme Court Told

India News | Indo-Asian News Service | Tuesday September 12, 2017

The Income Tax department on Monday informed the Supreme Court that there are 105 lawmakers in whose case the verification of declaration of assets have revealed discrepancies in their assets and their known sources of income.

SIAM Relieved At New Cess Rates, Welcomes Differential Taxes On Hybrids

CarAndBike Team | Monday September 11, 2017

The Society of Indian Automobile Manufacturers (SIAM) is relieved that a flat 25 per cent GST cess has not been imposed on all larger cars. SIAM however says that taxation on mid-sized passenger cars has almost been restored to pre-GST levels.

GST Cess Hike In Cars To Take Effect From Today

PTI | Monday September 11, 2017

Notification regarding increase in the effective rates of the Compensation Cess on specified motor vehicles will be issued on September 11, 2017, effective from 00 hours the same day.

Income Tax Department To Appoint 7,600 Tax Return Preparers

Press Trust of India | Sunday September 10, 2017

A senior official working on the project said the aim was to ensure hassle-free and 'from home' tax filing service to assessees without they taking pains to go to a Chartered Accountant or a person who has expertise in filing tax returns.

Finance Ministry To Initiate Budget Exercise Next Week

Press Trust of India | Sunday September 10, 2017

With excise duty and service tax being subsumed in GST, the classifications will undergo change, an official said.

Do Your Aadhaar, PAN Details Match? What To Do

Business | NDTV Profit Team | Thursday September 7, 2017

If your Aadhaar details require updation, you have two ways to request changes: online and by visiting the enrolment centre.

India To Cooperate With Switzerland In Fight Against Black Money: PM Modi

India News | Indo-Asian News Service | Thursday August 31, 2017

India and Switzerland today discussed issues relating to transparency in financial transactions and agreed on early operationalisation of the automatic exchange of information on tax between the two countries in a bid to check black money.

GST Cess Hike On Luxury Cars Approved By Cabinet; SUVs To Get Pricier

CarAndBike Team | Wednesday August 30, 2017

Prices of most SUVs were cut between Rs 1.1 lakh and Rs 3 lakh following the implementation of GST, which subsumed over a dozen central and state levies like excise duty, service tax, and VAT from July 1.

Cabinet May Consider Ordinance On GST Cess Hike Tomorrow

Sunil Prabhu | Wednesday August 30, 2017

The GST Council, the apex tax rate setting body under the Goods and Services Tax (GST) regime, had on August 5 approved raising cess on SUVs, mid-sized, large and luxury cars that had become cheaper post GST rollout on July 1.

Aadhaar Helped Disburse Rs 83,000 Crore Via DBT Schemes: Assocham

Indo-Asian News Service | Sunday August 27, 2017

DBT schemes have resulted in weeding out of 3.34 crore duplicate consumers under PaHAL and a further 2.33 crore ration cards being deleted, Assocham said.

Over 29 Lakh Businesses Pay GST So Far, Deadline Ends Midnight

Press Trust of India | Friday August 25, 2017

The deadline for filing first monthly return under the GST - the new indirect tax regime that unifies over a dozen state and central taxes, including excise duty, service tax and VAT - expires at midnight tonight.

Government Should Take Pragmatic Decision For Levy Of Cess On Large Cars, Says BMW President

PTI | Friday August 18, 2017

SUVs, mid-sized, large and luxury cars that had become cheaper after GST rollout on July 1 will cost more as the GST Council last week approved a proposal to hike cess on them to 25 per cent, from 15 per cent now.

Income Tax Department Issues Fresh Summons To Lalu Yadav's Daughter Misa Bharti And Shailesh Kumar

India News | Indo-Asian News Service | Thursday August 17, 2017

The Income Tax Department today issued fresh summons to Rashtriya Janata Dal (RJD) chief Lalu Yadav's daughter Ms Misa Bharti and her husband Mr Shailesh Kumar to appear before it on Monday.

GSTR-3B Filing And How to Enrol For GST. Details Here

Business | NDTV Profit Team | Thursday August 17, 2017

Existing payers of levies such as central excise, service tax, state sales tax or VAT, entry tax and luxury tax are required to take up GST enrolment.

GST Improves Transport Sector Efficiency By 30%: PM Modi

Press Trust of India | Tuesday August 15, 2017

GST has subsumed over a dozen state and central levies like excise duty, service tax and VAT, and has replaced them with four tier tax structure of 5, 12, 18 and 28 per cent for goods and services across the country.

'Number Of Slabs In GST Will Be Reduced Later'

Indo-Asian News Service | Saturday August 12, 2017

Defending the different slabs, he said the central government was trying to introduce the new tax system with the consent of states and did not want to impose it.

GST Rate Of 3% On Gold Too Low: Economic Survey

Indo-Asian News Service | Saturday August 12, 2017

According to the Economic Survey Volume II 2016-17, tabled in Parliament on Friday, "The tax on gold and jewellery products - items that are disproportionately consumed by the very rich - at 3 per cent is still low."

Bharat Petroleum June Quarter Profit Down 72% On Inventory Losses

Indo-Asian News Service | Friday August 11, 2017

Bharat Petroleum had posted a profit after tax (PAT) of Rs 2,621 crore in the corresponding quarter a year ago, BPCL said in a stock exchange filing.

SUVs, Luxury SUVs To Cost More As GST Council Approves Hike in Cess

CarAndBike Team | Monday August 7, 2017

The Goods and Service Council has approved Centre's request to increase the cess on SUVs and luxury SUVs to 25 per cent from 15 per cent.

Booked A Flat Before July 1? Builders Can't Charge More For GST

Business | Sunday August 6, 2017

Earlier flat buyers used to pay a service tax rate of 4.5 per cent and a VAT rate of 1-2 per cent for purchase of flats.

SBI ATM Withdrawal Rules, Cheque Book And Others Charges. Details Here

Business | NDTV Profit Team | Thursday August 3, 2017

SBI has clarified that customers of its mobile wallet State Bank Buddy will be charged 3 per cent plus GST of 18 per cent on transfer from Buddy to bank account using IMPS.

Post-GST, Travel Time Of Trucks Has Reduced By A Fifth: Government

India News | Press Trust of India | Sunday July 30, 2017

Post-GST, travel time for longhaul trucks have reduced by at least a fifth, Ministry of Road Transport and Highways has said.