Service Tax Return Filing and Advisory Services
If you have a Service Tax Registration, you need to file returns twice a year, regardless of whether your turnover exceeds Rs. 10 lakh. Even if you don’t have any revenues, you still need to file your returns by October 25 (for April to September) and by April 25 (for October to March). Before this filing, however, all your service tax dues need to be cleared. Failure to pay service tax or file service tax returns by the due date would result in penalties.
Once you send in a request, our representatives will inform you of the documents and details you need to submit, such as the collection of tax invoices raised. In case we find that service tax payments had not been made by the due date, we will inform you of the additional interest to be paid. In case the filing is not applied for in time, we will inform you of the penalty that needs to be paid. Do remember that you can only file your service tax returns after clearing all your dues.
Fees – Our charges for Service Tax Return Filing and Tax Advisory Services starts from Rs.999/-.
1. Who must file Service Tax Return?
All persons or entities liable to pay service tax or having service tax registration must file service tax returns. Entities having service tax registration are mandatorily required to file service tax returns. Service tax return must now be e filed.
2. When is Service Tax Return due?
Service tax returns are due half-yearly. Use ReminDue to know the service tax return due date and service tax payment due date for your business.
3. What is the penalty for late filing of service tax return?
Delay of upto 15 days in filing service tax return could attract a penalty of Rs.500. Delay of 15 – 30 attracts a penalty of Rs.1000 and delay in filing of service tax return for a period of more than 30 days attracts a pentaly of Rs.1000 + Rs.100 for each day of delay in filing service tax return upto a fine of Rs.20,000.
4. How to make service tax payment?
Service tax payment can be made online through net banking for all assesses having a service tax due of Rs. 1 lakh or more in the preceding financial year. Others can make the payment through cheque or demand draft.
5. What is Service Tax?
Service tax is a tax on services provided in India. Service tax is levied under the Finance Act, 1994 on certain services as specified by the Government.
6. Who has to pay Service Tax?
Service tax is to be paid by the receiver of the service. However, service tax is a form of indirect taxation. Therefore, the person who provides the taxable service on receipt of service charges along with the service tax is responsible for paying the service tax portion to the Government. Also, small scale service providers who provide less than Rs.10 lakhs of taxable service a year is exempt from service tax.
7. What are taxable services?
Almost all services provided in India are taxable. To find the complete list of taxable services, refer to Section 65(105) of the Finance Act, 1994. All taxable services as on 1.5.2011 is listed in Appendix-1.
8. What is the rate of Service Tax?
The effective rate of Service Tax is 10.3% on the value of the taxable service. In addition education cess @ 2% on the service tax amount and secondary and higher education cess @1% is levied on the service tax amount. Hence, Service Tax is normally levied at 12.36%
9. What is service tax registration?
Service tax registration is a mandatory registration for service providers who have taxable service of value exceeding Rs.9 lakhs, in the previous financial year. Service tax registration facilitates in the identification of assesse, payment of service tax and filing of service tax returns.
10. Who must obtain service tax registration?
Any person who has provided taxable service of value exceeding Rs.9 lakhs in the preceding financial year is required to obtain service tax registration. When a person commences a new business, he/she is required to obtain service tax registration within 30 days of commencement, if the business will have taxable service in excess of Rs.9 lakhs.