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Latest Articles in service tax

Hospitality Industry In India: A Big Contributor To Economy's Growth

The hospitality sector has the potential to be the main driving force behind the growth of the economy

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Budget 2017 | Arun Jaitley May Hike Service Tax To 16-18%

Finance Minister Arun Jaitley may hike service tax rate to 16-18 per cent from the current 15 per cent in the Budget, due on Wednesday, as a precursor to the Goods and Services Tax rollout

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Budget 2017: Urgent Need To Focus On Education Sector

The tuition fees across educational institutions have increased substantially in the recent years and bundling the tuition fees exemption under all-encompassing section 80C with a total deduction of Rs. 1.5 lakh has not really incentivised higher studies. To encourage middle class households to pursue academic dreams, a separate section under the Income Tax Act should be provided

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Expect … Suspect … In Retrospect

The government may actually only reduce corporate taxes since this will provide tangible benefits and not touch upon the personal taxes at all

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Government's Direct Tax Kitty Swells To Rs 5.57 Lakh Crore In April-December

The government's direct tax kitty has swelled to Rs 5.57 lakh crore between April 1 and December 19, thereby achieving 65 per cent of budget estimates

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No Transaction Charges On Debit Card Payments, Says Government

To encourage widespread usage of digital payments post demonetisation, the government on Wednesday said no transaction charges will be levied on debit cards till December 31

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ONGC Videsh Slapped With Service Tax Demand Of Rs 6,100 Crore

The tax department has slapped a service tax demand of over Rs 6,100 crore on the overseas arm of state-owned Oil and Natural Gas Corp, a move that may potentially render its investments in oil and gas fields abroad infructuous

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GST To Give Major Boost To India's GDP

Expected GST in India is going to be diluted somewhat as certain commodities such as Alcohol are not expected to be covered under GST

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Budget Shifts Strategy From India Inc To Rural India

The change in direction of corporate tax rates has begun with a small cut in direct tax rate to 29 per cent from 30 per cent

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Budget To Boost Affordable Housing

For small taxpayers, the Finance Minister has proposed to increase the limit of deduction of rent paid under section 80GG from Rs 24,000 per annum to Rs 60,000 to provide relief to those who live in rented houses

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Real Estate: Key Expectations From Union Budget 2016

The residential construction should be taken out of 14.5 per cent service tax net in the first place and this exemption should cover the builders and developers who are registered

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Industry Expects Relief From Double Taxation For Ease Of Doing Business

While the central government is pursuing its objective to provide a certain and stable tax regime, it is critical that instances of dual levy of VAT and service tax on the same transaction are addressed urgently

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