SERVICES TAX

  • Mumbai tax dept begins impounding KFA aircraft December 11, 2012

    Mumbai: In another blow to the crisishit Kingfisher Airlines, the Mumbai Service Tax has begun impounding the airlines' aircraft. One aircraft has been seized and another is in the process of detention. The Deputy Commissioner, Service Tax had sent an order a few days back to Kingfisher that the seven aircraft...
  • Ramdev gets notice for alleged tax evasion November 28, 2012

    New Delhi: A demand notice has been sent by authorities to trusts run by Ramdev for alleged service tax evasion on about Rs 1 crore received from a private TV broadcaster for airing his programme on Yoga. Official sources said a demand notice was sent to Patanjali Yoga Peeth and...
  • Working towards bringing in the GST: P Chidambaram November 8, 2012

    New Delhi: Finance Minister P Chidambaram on Thursday said that the Centre will soon bring in a major change in the taxation system in the country. Speaking to reporters, Chidambaram said, "We are moving towards bringing a major change in the taxation system in the country. We are working on...
  • AC train fares to cost more from today October 1, 2012

    New Delhi: Train fares of all AC classes will become costlier by more than 3 per cent from Monday. The new service tax of 3.708 per cent, as per the government notification, will be levied on AC First Class, Executive Class, AC2 tier, AC3 tier, AC Chair Car and freight. ...
  • No service tax on train tickets purchased before Oct 1 September 29, 2012

    New Delhi: Service tax on AC class train fare will not be realised on tickets purchased before October 1 as railways modified its earlier decision on it. Fares of AC First Class, Executive Class, AC2 tier, AC3 tier, AC Chair Car will go up by 3.708 per cent from October...
  • FDI in retail: BJP to organise traders' protest August 23, 2012

    New Delhi: Amid reports that the government is mulling over allowing FDI in retail, BJP on Thursday announced it will organise a protest demonstration by traders from across the country in the national capital on August 23 to oppose any such move. National Convenor of Traders Cell, BJP, Shyam Bihari Mishra,...
  • 'Reduce service tax to curb black money' July 11, 2012

    Subhash Lakhotia, a tax consultant, says if government wants to curb black money it should bring down the burden of service tax. ...
  • No service tax on NRI remittances: Government July 11, 2012

    New Delhi: The government on Tuesday said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms. "The matter has been examined and it is clarified that there is no service tax per se on the amount of foreign currency remitted...
  • How much more tax, ask upset Bollywood actors July 5, 2012

    The government's decision to levy 12 per cent service tax on film and TV actors has left many fuming in the industry. ...
  • New service tax makes travel, holidays costlier July 1, 2012

    New Delhi: Get ready to pay even more. The new 12 per cent additional Service Tax comes into effect from Sunday. The new tax covers all services except 38 activities that are put on the negative list. The switchover to a negative list is aimed at unifying the tax and levies...
  • Most services to come under tax net from July 1 June 30, 2012

    New Delhi: All services except those which are in the negative list will become expensive from Sunday with the implementation of the new service tax regime. With the exception of 38 services, which figure in the negative list, all other activities would attract 12 per cent tax. The government had...
  • Service tax on railway freight from July 1 June 8, 2012

    New Delhi: Close on the heels of railways increasing parcel rates by 25 per cent, the freight charges will go up by about 3.6 per cent from July 1 with imposition of service tax. "The government had given service tax exemption on goods carried by railways till June 30, 2012....
  • Except funeral, burial, all services to be taxed June 6, 2012

    New Delhi: All services except 17 in the negative list, will be taxed from July 1, the Finance Ministry has said. Under the 'negative list' approach, services specified in the list will remain outside the tax net. The government has widened the definition of 'Services' to bring in more activities under...
  • KFA yet to pay up Rs 54 cr service tax: CBEC May 22, 2012

    New Delhi: Cashstrapped Kingfisher Airlines has paid Rs 15 crore as service tax dues in April this year but is still to pay up Rs 54 crore arrear, Central Board of Excise and Customs (CBEC) Chairman SK Goel said on Monday. "They (Kingfisher Airlines) are paying their monthly dues every...
  • Pranab Mukherjee to reply on Budget proposals May 8, 2012

    New Delhi: Finance Minister Pranab Mukherjee is expected to reply on Tuesday to various proposals in his 201213 budget. The Finance Minister will be seeking Parliament's approval to move the Finance Bill and is likely to relook at some of the controversial proposals, such as changes in the tax laws that...
  • Pay more, taxing time begins today April 1, 2012

    New Delhi: It's the start of a new financial year and the 'aam aadmi' will have to pay more as a host of duty and fare hikes come into effect from Sunday. The 2 per cent increase in service and excise duty has taken effect. Eating out may leave...
  • Pay dues to keep flying: Govt warns Kingfisher March 26, 2012

    New Delhi: Civil Aviation Minister Ajit Singh has warned Kingfisher Airlines Chairman Vijay Mallya to pay his dues in order to keep flying. This came just hours before the Directorate General of Civil Aviation (DGCA) comes out with its report on the cashstrapped private carrier on Monday. Singh said the...
  • KFA to pay Rs 10 cr service tax till March end March 25, 2012

    Mumbai: Cashstrapped Kingfisher Airlines, which has massively cut down operations including completely winding up international services, has agreed to pay only up to Rs 10 crore of its Rs 76crore service tax dues this fiscal, a top Government official has said. The beleaguered airline, which has faced stern warnings from the...
  • Kingfisher seeks more time to pay service tax dues March 23, 2012

    New Delhi: A Finance Ministry official has said that cashstrapped Kingfisher Airlines has sought more time from the revenue department to pay its Service Tax dues of about Rs 76 crore. "They want some more time...They have made a request. Will see what can be done?" Central Board of Excise and...
  • Phone bills set to rise after hike in service tax March 17, 2012

    New Delhi: With service tax set to rise from 10 to 12 per cent, telecom companies on Saturday said tariffs for all telecom services will rise from the date the hike in tax is notified. "We are very disappointed with increase in service tax. Industry has been under attack for raising...
  • Will discuss service tax hike in Parliament: Mamata March 17, 2012

    First class and AC rail fares will rise due to the increase in service tax. Will Mamata Banerjee derail the proposal? ...
  • Budget 2012: What gets cheaper, what gets dearer March 17, 2012

    New Delhi: Budget 2012, presented by Finance Minister Pranab Mukherjee makes branded clothes, footwear, mobiles phones and LCD TVs cheaper. Also apart from cheaper imported medical equipment, prices of HIV and cancer medicines are to go down too. But two and four wheelers will get more expensive so are refrigerators,...
  • Daytoday items, luxury cars to cost more March 16, 2012

    New Delhi: Almost all the manufactured items used in every day life will become costlier, while luxury cars, gold, eating out at restaurants or hotel accommodation will become even more expensive after a steep hike in tax rates proposed in Budget 201213. Cigarettes and bidis will also become dearer as...
  • Budget 2012: Service tax rate hiked to 12 pc March 16, 2012

    New Delhi: Telephone use, eatouts and other activities will cost more as Finance Minister Pranab Mukherjee on Friday proposed increasing the service tax rate to 12 per cent from 10 per cent and introducing a negative list aimed at bringing more services under the tax net. "I propose to raise the...
  • Union Budget 2012: Highlights March 16, 2012

    New Delhi: Budget 2012, presented by Finance Minister Pranab Mukherjee, identifies five objectives relating to growth recovery, private investment, supply bottlenecks, malnutrition and governance matters. Following are the highlights of Budget 2012: GDP growth to be 7.6 per cent (+ 0.25 percent) during 201213 Amendment to the FRBM Act proposed ...
  • Union Budget 2012: How it happened March 16, 2012

    New Delhi: Finance Minister Pranab Mukherjee's Budget failed to send out a strong message about the reform process while coming out with a subsidy management plan and announced a new income tax structure. Experts labelled the it as an '80s style' Budget. Mukherjee began by admitting that the global crisis...
  • Kingfisher crisis: 40 more accounts frozen March 3, 2012

    New Delhi: There seems to be no end to the woes of crisishit Kingfisher Airlines. Forty more bank accounts of the airlines have been frozen by the Service Tax Department. The Service Tax Commissioner said Kingfisher Airlines owes Rs 40 crore in tax arrears. Earlier on Friday, reports said that seven...
  • State FMs to meet over Union Budget March 3, 2012

    New Delhi: Ahead of the Union Budget, Finance Ministers of all the states will be meeting in New Delhi on Saturday. They are expected to suggest steps to increase the ambit of the service tax net. The ministers have also prepared a negative list and are expected to sort out issues...
  • More trouble for Kingfisher, 7 accounts frozen March 2, 2012

    Mumbai: Trouble doesn't seem to be getting over for the king of good times, Kingfisher Airlines. According to sources, seven more bank accounts of the beleaguered airline have been attached by the Service Tax Department. The Service Tax Department had attached 37 accounts of Kingfisher earlier and following Friday's action the...
  • Union Budget 2012: what's in it for me? February 16, 2012

    With the budget season approaching there are a lot of discussions and aspirations of what the budget would have in store for us. However there are a few questions which most people have in mind like what exactly is the union budget? How is it going to affect me? Do...