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Domestic and international air fares would rise by Rs 100 and Rs 500 respectively from July one with the government issuing a notification to bring air travel into the service tax ambit....

Those looking to book a house should do so before July 1. All sales of under-construction houses from July 1 will attract service tax with the finance ministry notifying tax on new services. Sale of immovable property will be deemed to be taxable unless entire consideration is paid after the issuance of completion certificate by a compet...

Sports events such as Indian Premier League will attract service tax but tax exemption has been allowed to tournaments and championships organised by certain bodies such as national sports federations or federations affiliated to them. These include School Games Federation of India, Association of Indian Universities and Olympic Committee...

The government has decided to exempt distribution of electricity, services provided within ports and airports, international passengers in transit and those travelling to and from the North-East from the ambit of service tax while bringing in more services in the tax net from July 1....

Starting next month, there will be no service tax on construction of some low-cost housing, power distribution, foreign travelers in transit, those flying to and from the Northeast, services within ports and airports, and certain tournaments and championships....

Four retailers will be approaching various High Courts across the country to seek a stay order on the service tax on commercial rentals that was imposed in this year’s Budget by finance minister Pranab Mukherjee. According to industry sources, the four retailers are Shopper’s Stop, Lifestyle, More and Reliance Retail Ltd....

Through Finance Act 2010, the government had sought to levy service tax on renting of immovable property to businesses, despite the fact a similar law enacted three years ago remained non-enforceable, thanks to a Delhi High Court ruling on a petition challenging the law filed by major retailers. ...

Companies managing to evade taxes on services received from abroad, such as management consultancy and banking, now may not be able to to do so as the government is all set to plug the loopholes in the system which helped flourish the practice till now....

Everyone is anxious to know from which date, New services covered by Union Budget 2010 will be taxable as CBEC has not yet issued any circular/Notification or press release on the same. We learnt from our sources that CBEC will notify the dates, from which new services will be taxable on 01st June 2010. It is also learnt that New service...

THE finance ministry will soon put out a small list of essential services that will not be taxed at airports or ports, as it kicks off experimental enclaves of a comprehensive service tax regime that could be extended nation-wide later....