What is taxable service under service tax?
1.1 As on 1st May, 2011, 119 services are taxable services in India. These taxable services are specified in Section 65(105) of the Finance Act,1994. Generally, the liability to pay service tax has been placed on the ‘service provider’. However, in respect of the taxable services notified under Sec.
What is the rule of service tax?
Service tax is a tax levied by the government on the services rendered by service providers which is borne by customers who receive this service and it comes under indirect tax category. The service provider has to pay the government the service tax, but the service recipient is the one who actually pays for it.
Can we pay service tax now?
As you are aware, currently taxpayers are making payments of Central Excise duties and Service Tax arrears through EASIEST Portal, DG Systems has now integrated payments of CE & ST with ICE GATE portal and the new payment gate way portal “CBIC (ICEGATE) E-payment” will be operational w.e.f., 1st July, 2019 onwards.
What happens if service tax is not paid?
If an assessee has not filed his or her service tax return for more than 30 days following the expiry of the prescribed deadline, then a late payment fee of Rs 1,000, along with an extra charge of Rs 100 for every additional day of delay in excess of the initial 30 days, will be charged.
What is the applicable time limit in service tax?
the Central Excise Officer may, within one year from the relevant date, serve notice on the person chargeable with the service tax which has not been levied or paid or which has been short levied or short paid or the person to whom such tax refund has erroneously been made, requiring him to show cause why he should not …
What are the taxable services?
Service Tax – Under manpower services – Provident fund and bonus paid shall be included in taxable service and service tax shall be charged Service Tax Payable on PF & Bonus Under manpower services Section 67 of the Finance Act, 1994- Valuation of Services In case of “Laxmi Construction v Commissioner in CESTAT …
Who is liable for service tax?
Person liable to pay service tax The tax is normally payable by the service provider. However law empowers the Government to notify a person other than the service provider to pay the service tax.. In some of the cases liability of payment of service tax has been shifted to the service provider.
Is it compulsory to pay service tax?
Under Rule 4A of the Service Tax Rules, 1994, it is compulsory for a service tax assessee to issue a bill or invoice within 14 days from the date on which the taxable service was completed or the date on which the payment was received for the service, whichever comes first.
Can penalty under service tax be waived?
Service Tax Penal Provisions Frequently Asked Questions However, Section 80 of the Finance Act, 1994, states that penalties can be waived off if the assessee in question can furnish reasonable evidence or proof that can provide justification of failure to make payment of service tax.
What is the interest rate for late payment of service tax?
Interest Rates Applicable till 13.5. 2016
|Period of delay||Interest rate charged|
|Upto 6 months||18%|
|6 months to 1 year||First 6 months 18% Remaining period 24%|
|More than 1 year||First 6 months 18% Next 6 months 24% Balance period 30%|
Who is responsible to collect the service tax?
Person liable to pay service tax is governed by Service Tax Rules, 1994 he may be service provider or service receiver or any other person made so liable. It is an indirect tax wherein the service provider collects the tax on services from service receiver and pays the same to government of India.
What is service for the purpose of service tax?
Definition: Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. This tax is payable only when the value of services provided in a financial year is more than Rs 10 lakh. This tax is not applicable in the state of Jammu & Kashmir.
How is your service tax reverse charge?
When person receiving service is liable to pay service tax under reverse charge, he is not entitled to exemption which is available to a small service provider. Thus, the service receiver is liable to pay service tax even if value of service of service provider is less than Rs. 10 Lakhs.
What are the types of service tax?
There are Four GST types namely Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST).
Can you refuse to pay a service charge?
No, there’s no obligation to tip or to pay an optional service charge.
What is the penalty for not taking service tax registration?
Failure for not obtaining service tax registration can attact a penalty of Rs. 10,000 or Rs. 200 per day during which default continuous.
What is the due date for payment of service tax?
If the service taxes are paid online through internet banking, etc., the payments will be due on the 6th of every month and the 31st of March. If the service taxes are paid by any other means, the payments will be due on the 5th of every month and the 31st of March.
Who is liable for service tax registration?
Every person who has provided a taxable service of value exceeding Rs. 9 lakhs, in the preceding financial year, is required to register with the Central Excise or Service Tax office having jurisdiction over the premises or office of such service provider.
Who is responsible for service tax?
Who is responsible for service tax under RCM?
6. Support Service by Government or Local Authority‐ In relation to service provided or to be provided by Government or local authority to any business entity located in the taxable territory, the recipient of such service. The recipient in such case will be liable to pay 100% service tax.