« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Notification of accounting standards by the central... Finmin in no hurry to notify CTT... » Industry chambers liable to pay service tax: CBEC May, 17th 2008 Industry and business chambers are liable to pay service tax. The Central Board of Excise and Customs on Thursday clarified that the trade associations falls within the scope for clubs and association services.  The clarification comes close on the heels of Confederation of Indian Industries (CII) getting a show cause notice from the service tax department for Rs 32 71 crore. The board said that the services provided by these associations are not of charitable, religious or political in nature. They collect membership fees and other charges from their members and they work for the interest of trade and industries. Therefore, they do not have objectives which could be categorized as public service. Accordingly, they do not fall within the scope of the excluded categories, it said. Services provided by the trade associations to their own members are not in the nature of self service by virtue of the Explanation under Section 65 of the Finance Act, 1994 which clearly states that the taxable services include any service provided by any unincorporated association or body of person to a member thereof, for cash deferred payment or any other valuable consideration.