Service Tax

SERVICE TAX REGISTRATION

Any person or company providing taxable services is required to pay Service Tax. Scope of Service Tax has been increased since its inception and from 1st July, 2012, it has shifted to negative list regime from the earlier inclusive regime i.e. service tax is payable on all the services except those covered in the negative list or mega exemption list.

WHEN IS PERSON LIABLE TO PAY SERVICE TAX APPLICABLE?

As soon as the aggregate value of taxable service (or the billing of the services provided) exceeds INR 9 lakhs ( INR 0.9 Million) during any time of the financial year, it is mandatory for the service provider to obtain the service tax registration number. However, liability to charge service tax & its payments starts as soon as the aggregate value of taxable services exceeds INR 10 lacks (INR 1 Million).

What Moneyम्जी can do for you?

  • Computation of Service Tax: This activity will include:
    • Collecting information with regard to invoices rasied / services rendered, service tax charged, services tax collected from Customer , service tax paid under reverse charge basis and service tax paid on input services for computation of service tax liability;
    • Examining and calculating set off / input tax credit to ascertain the tax liability to pay.
    • Assistance in making the payment of service tax to the authority / deposition of service tax online on behalf of client & providing the challan. Service tax has to be paid by 5th of next month in case of Company and for others, latest by 5th day from the end of Quarter.
    • Review the service tax exemption/ abatement adopted by the management for various services and providing our opinion on the same.
  • Return Filing: This activity will include:
    • Preparation & Compilation of service tax returns on half yearly basis;
    • Filing of the service tax return as per the requirement of Authority.
    • Ensuring that Service tax return filed is accepted by the Authority without any objections.

Pricing

Service Tax Registration: Rs 3,500/-

1 Half Yearly Service Tax Return: Rs 1,499/-*  Click here to initate process

2 Half Yearly Service Tax Returns: Rs 2,999/-* Click here to initate process