Applicability of Service tax on rent on immovable property

As per the present service tax law, all services are taxable to service tax @14 % unless they are covered by any of the entries in the negative list or are part of the mega exemption notification. Clause 44 of section 65B of service tax act has stated that services include declared service. Declared service … Read More » "Applicability of Service tax on rent on immovable property"

When and How to file revised service tax return

Mistakes or errors in original service tax return can be rectified with a revised return. After filling the revised service tax return, earlier mistakes and omissions get rectified and the revised return will replace the earlier original service tax return. As per ST rule 7B, revised service tax return has to be filled in form … Read More » "When and How to file revised service tax return"

How to cancel or surrender service tax registration number

Service tax registration number can be surrendered in cases where assessee ceases to provide taxable services for which they have registered or for following reasons; Assessee’s turnover is below the threshold limit beyond which they are liable to service tax. Where proprietorship business has been changed to partnership or partnership has been changed to proprietorship … Read More » "How to cancel or surrender service tax registration number"

Due dates for payment of service tax in India

Service tax collected from a client or customer has to be paid to government of India before the due dates as stipulated in the act. In case of delay in payment, interest and other penal provisions will be applicable on the person who is responsible for such payments. Due dates for payment of service tax … Read More » "Due dates for payment of service tax in India"

Forms and Due dates for filing service tax return in India

Service tax returns are to be filled by those assesses who are assigned a service tax registration number in India. It does not matter whether you have rendered any taxable services during the financial period or not. It’s compulsory that assessee should file their half yearly service tax return as per the act. Service tax … Read More » "Forms and Due dates for filing service tax return in India"

Service Tax on advertisement Services

Section 65B of the Act defines advertisement as follows; any form of presentation for promotion of, or bringing awareness about, any event, idea, immovable property, person, service, goods or actionable claim through newspaper, television, radio or any other means but does not include any presentation made in person. With effect from 1st of July 2012 … Read More » "Service Tax on advertisement Services"

Applicability of service tax to the state of Jammu and Kashmir

Service tax or ST is applicable to the whole of India except the state of Jammu and Kashmir or J&K. To get it applicable to the state of Jammu and Kashmir the consent of the state assembly is required which has not been obtained till date. Followings are some of the incidence which needs to … Read More » "Applicability of service tax to the state of Jammu and Kashmir"

Negative List in Service Tax

With effect from 1st July 2012, government has introduced negative list of services which are not taxable in India. If you want to know whether your service is taxable or not then first you have to look in to negative list of services and then into the mega exemption. If in both the places you … Read More » "Negative List in Service Tax"

What is Service Tax – Registration and Filing of Service Tax Return

Service tax is imposed by the government of India on all services rendered in India except in the state of Jammu and Kashmir. In India Service Tax is charged on all types of services except those that are specifically exempted or mentioned in the negative list. In India, Service Tax is introduced by the then … Read More » "What is Service Tax – Registration and Filing of Service Tax Return"