Service Tax is a kind of tax levied by the Government of India on services provided or to be provided excluding services encompassed under negative list. The current service tax rate is 15%. The tax is payable by the service provider to the Govt. of India. However, the service provider can collect this tax from the consumers and deposit the same with the government.
Documents Required for Service Tax Return1. Service Invoices Raised during the Quarter |
April – September 25th October
September – March 25th April
Although the service tax return is filed half yearly, payment of service tax received by the Service Provider shall be deposited to the Government on monthly/quaterly basis.
The Service tax return is required to filed in “Form ST – 3” or “ST – 3A” as the case may be and shall include the following details:
1. The Value of Taxable Services charged / billed.
2. The Value of Taxable Services realised.
3. The Amount of Service Tax Payable/Paid.
Documents
Data processing and Tax Analysis
Tax Payment
Return Preparation
Return Upload
Acknowledgement
The non-registration & non filing of return under any applicable service tax
registration attracts heavy penalties.
The basic reason for the introduction of service tax is broadening the tax base,
augmentation of revenue and larger participation of citizens in the economic development of the nation.
Customer will know exactly how much tax they are paying on the product they bought or services they consumed.
| Period of Delay | Penalty |
| for delay up to 15 days | INR 500 |
| for delay beyond 15 days but up to 30 days |
INR 1,000 |
| for delay beyond 30 days | INR 1,000 + INR 100 per day (from 31st day subject to a maximum amount of Rs 20000. |
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