Service Tax Registration
Service Tax Registration is a tax registration required for businesses providing services in India. Service tax registration is an indirect tax wherein the service provider pays the tax and recovers the same from the recipient of the taxable service. At present, Service Tax is levied at 14.50% on the value of the taxable service. This includes Swachh Bharat Cess @ 0.50% on the service tax amount.
Service Tax registration is mandatory for every person or business in India that has provided a taxable service of value exceeding Rs.9 lack, in the previous financial year. Service Tax Registration is required for identification of the assesses, deposit service tax, file service tax returns and undertake various processes required under the Finance Act, 1994. Failure to obtain service tax registration would attract penalty in terms of section 77 of the Finance Act, 1994
Service Tax Registration Process
1. Service Tax Registration
Adroit Corporation Pvt. Ltd can help your business obtain Service Tax Registration in 7 to 12 days, subject to Government processing time.
2. Application Preparation
An Adroit Corporation Pvt.LtdTax Expert will prepare your Service Application and obtain your signature in the format along with the necessary supporting documents.
3. Application Processing
Once the application is prepared, Adroit Corporation Pvt. Ltd will obtain ST 1 Registration and submit the hard copy Application with supporting documents to the concerned Tax Department.
4. Service Tax Registration
Once the Service Tax Application and the attached supporting documents are verified, the Tax Department will allot Service Tax Registration (ST 2) for your business.
Small Scale Service Providers
Small scale service providers who provide taxable services of less than Rs.10 lakhs in a year is wholly exempted from service tax and service tax registration.
Service Tax Registration
Service tax registration must be obtained by any person who provided a taxable service of value exceeding Rs.9 lakhs, in the previous financial year. Failure to obtain service tax registration can result in penalty
Service Tax Return Filing
Service Tax Return Form ST-3 must be filed twice in a year. Return for half year ending 30th September and 31st March are required to be filed by 25th October and 25th April, respectively.
Service Tax Payments
Service Tax Payments must be deposited in designated banks quarterly in case of Proprietary Firms or Partnership Firms and monthly in the case of Companies, Trusts, Societies, etc.,
NO Service Tax on Exports
For services exported from India, service tax is not applicable. Therefore, exporters of service are not required to pay service tax. However, it is advisable for service exporters to obtain service tax registration.
In case Form ST-2, Registration of Service Tax is not issued within seven days of filing of Form ST-1 with all the relevant documents, the service tax registration is automatically deemed to be granted.