What is Service Tax?
Service Tax is an Indirect tax levied by Government on services provided by a service provider who consequently recovers that service tax from customers (service recipient) and is also payable by the service provider to the Government of India. Service Tax is applicable on all services except services mentioned in the negative list. Subsequently, payment of service tax mandates the registration of tax on services by a service provider or businesses, when the value of taxable services provided by them exceeds 9 Lakhs rupees in a previous financial year. Service Tax return is submitted online.
Facts about Service Tax Return
- Every person or assesse who i registered under Service Tax needs to file service tax return half yearly to Superintendent of Central Excise in Form ST-3 or Form ST-3A. Every assesse shall submit their half year return by 25th of the month following the particular half-year.
- So the service tax return of first half year (April-September) needs to be filed by 25th October and for a second half year (October-March) by 25th April.
- If any mistake or omission is done in return, than for that Revised Return can also be filed within 90 days from the submission of actual return.
- Any person or assesse submits return after the date prescribed for the presentation of service tax return than he shall be liable to pay to the government as prescribed.
- If the delay is up to 15 days; late fees is Rs. 500/-
- If the delay is beyond 15 days but up to 30 days; late fees is Rs. 1000/-
- Delay beyond 30 days; late fees is up to Rs. 1000/- plus Rs. 100/- per day of delay beyond 30 days. This late fees of Rs. 100/- per day continues till the limit of Rs. 20000/- is reached, late fees do not exceed this amount.
- As long as your registration of service tax is valid assesse needs to submit NIL Return in case there was no business during the period.
- If in any case last date of paying service tax and filing service tax return is national holiday than assesse can pay and submit on the next working day.
- In case assesse applies late for service tax registration then he is liable to pay service tax of the period before filing with interest. But he cannot submit the return for the period before registration.