SERVICE TAX RETURN FILING



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SERVICE TAX RETURN FILING

A service provider needs to get himself registered with the Service Tax department. Service Tax is a tax which is recovered by the service provider from the recipient of services and paid to the Service Tax department. Every service provider, who provides services worth Rs. 9 lakhs or more, needs to get registered with the Service Tax department.  Non registration attracts penalty.  

 

At present the rate of Service Tax is 12% plus 2% Education Cess on Service Tax amount and 1% Secondary and Higher Education Cess. In total the Service Tax goes upto 12.36%. Budget 2015 has proposed consolidated Service Tax of 14% including Education Cess and Secondary and Higher Education Cess. There will be 2% of Swachh Bharat Cess on 14% Service Tax after the same is notified by Central Government.

SERVICE TAX RETURN FILING

  • Small service providers who provided services less than Rs. 10 lakhs in a year are exempt from Service Tax and need not register under Service Tax.
  • Service Tax can be paid online through any designated bank. Proprietorship and Partnership Firms are required to pay Service Tax on quarterly basis whereas Private Limited, Limited Companies, Trusts etc have to deposit Service Tax on monthly basis.
  • If during the previous year a service provider has provided services worth Rs. 9 lakhs, he has to register himself under Service Tax. Non registration attracts penalty.
  • Service Tax returns are lodged twice a year. For the half year ending 30th September, the filing due date is 25th October and for the second half ending 31st March, the filing due date is 25th April.
  • After application of Service Tax number in form ST 1, if registration certificate is not issued by the Service Tax department within seven days, Service Tax registration is deemed to be granted. This means that after application in form ST 1, the entity has to pay Service Tax even if the registration certificate is not received.
  • Service Tax is not levied on export of services. It is advisable to get the business registered with the Service Tax department even if the it is 100% service export business.
  • There are some services where the liability to pay Service Tax is on the receiver of service. This is called Reverse Charge Mechanism. Insurance Agent, Legal Services, Goods Transport, Arbitral Tribunal Service, Manpower Supply, Rent-a-cab, Import of Taxable Service etc are few examples.
  • There is no threshold exemption of Rs. 10 lakhs on Reverse Charge Mechanism. The Service Tax is payable from very first invoice.

SERVICE TAX RETURN FILING

BASIC
1999
  • Half Yearly

  • Service Tax Return

  • for

  • Financial Year

  • without Transactions

  • (NIL Return)

STANDARD
2499
  • Half Yearly

  • Service Tax Return

  • for

  • Any One Half

  • of the Year

  • --

PREMIUM

4999
  • Half Yearly

  • Service Tax Return

  • for

  • Two Halves

  • of the Year

  • --




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