« Top Headlines » Open DEMAT Account in 24 hrs  MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th  Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime  GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation  How Tally Prime Supports the Real Estate & Construction Industry in India  Comparison Between Tally Prime 6.1 and Tally Prime 6.2  How Tally Prime Renewal Helps Save My Data  Where to Buy Tally Prime 7.0 at the Best Rates Possible  CBDT extends specified date for filing of various reports of audit for the Assessment Year 2025-26  Tax audit deadline nears: Will Finance Ministry grant an extension?  Are large income tax refunds getting delayed? Here s what you can do if you are yet to receive refund  MSME Form 1 for Enhanced Reporting in Tally Prime Silver «  Stress on measuring `intangibles' in company's growth... Finmin not for tax sops to Delhi Metro... » Service tax likely for IMFL distillers October, 06th 2006 Distillers engaged in the manufacture of Indian Made Foreign Liquor (IMFL) of various brands on job work basis may have to fork out service-tax on the `job charges' received by them from brand owners. The Finance Ministry has taken a view that the activity of blending, manufacturing, bottling or labelling on job work basis by a distiller, in respect of IMFL on behalf of brand owner, would be covered under the category of `business auxiliary services'. The Central Board of Excise and Customs has issued a draft circular to this effect and sought the views of stakeholders on the levy of service-tax on distillers under `business auxiliary services' for manufacture of IMFL on job work basis. Service-tax expert, Mr J.K. Mittal, said that this issue had been pending since the second half of 2004 and that the Finance Ministry has now through the draft circular taken the view that such services are in the nature of business auxiliary services and therefore attract service tax. He also pointed out that the job worker might pass on the service tax levy to the brand owner, who would not be able to set-off this tax as manufacture of IMFL being potable alcoholic beverage was outside the scope of central excise law.