Service Tax News

Gross GST revenue in March included Rs 38,100 crore from Central GST, Rs 49,900 crore from State GST, Rs 95,900 crore from Integrated GST, and Rs 12,300 crore from compensation cess. 

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore.  

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.

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.

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).

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.