Negative List

Get ready to pay even more as the new 12% additional Service Tax comes into effect from Sunday.

Negative list for service tax to be effective from July 1

Finance ministry sources informed that all notifications pertaining to the negative list for service tax will be issued today. The negative list approach will be effective from July 1, 2012. CNBC-TV18‘s Aakansha Sethi reports, the negative list will help the finance ministry to rake in 10-12% additional revenue, adding up to about Rs 18000 crore.

India Inc: Implementation of GST might boost GDP by 1-2%

With the implementation of GST still a long way off, India Inc seems to be getting restless. To begin with, there is still no availability of cross credit on service tax and VAT. Consequently stakeholders are being subjected to double taxation both by the centre and the state, reports CNBC-TV18's Ashmit Kumar.

Budget Reactions: Negative list to deepen service tax base, says PwC

The movement of service tax to a 'negative list', where every service will be taxed with limited exemptions is extremely significant, believes PwC.

Negative list for services to be unveiled soon: CBEC

Today, the Chairman of the Central Board of Excise and Customs (CBEC), S Dutt Majumder told CNBC-TV18 that the government could consider a negative list for services before introducing the goods and service tax (GST).

Govt to come out with negative list of service tax soon

The government will come out with a draft 'negative list' for service tax in two weeks, meaning services which are not mentioned in it would be taxed under the proposed GST regime.