Dossier
service tax
Coverage of service tax in the Nexus archive.
- Mayor's financial task force proposes downtown congestion fee, service tax, restructuring electricity taxes
Chicago Mayor Brandon Johnson's financial task force proposes revenue measures including a downtown congestion fee, service tax, and higher electricity rates for high-volume users to address the city's $36 billion pension crisis and $1.15 billion budget shortfall. The task force, led by Jim Reynolds and Karen Freeman-Wilson, aims to shift from temporary budget fixes to long-term solutions like pension reforms and property tax adjustments.
- Banks get major relief as Karnataka High Court rules that minimum average balance in account not liable for service tax
The Karnataka High Court ruled that the minimum average balance requirement in bank accounts is not subject to service tax, providing relief to banks. This decision removes a financial burden previously imposed on banking institutions.