Well most of you must have register your .in domains with mitsu as they are one of the best and cheapest .in domain registrar on planet but not now.
After they had announced that they will apply 12.36% service tax on the sale of domains to Indian customers, they will not enjoy the same popularity as they had once enjoyed before the price hike.
It is obvious that this service tax will not be applicable on foreign customers.
.in renewal and registration fees at mitsu is Rs. 415 and after adding 12.36% tax it will rise to approximately Rs. 467 which is much higher than Rs. 415.
My suggestion would be to transfer your domain out of India domain registrars to foreign domain registrars like Godaddy.
At godaddy .in renewal and registration fees is around Rs. 412 after coupon which are easily available on net.