1. What is rate of Service Return?
Service tax will be levied at a Flat rate of 14% on the amount.
2. What are the documents required for service return registrations?
To obtain service tax registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] is required.
3. When should service returns payments be deposited?
Service return payments must be deposited by Companies, Societies, Trust, etc., monthly. Proprietary Firms and Partnership Firms are required to make service return payments quarterly.
4. What is the penalty for not obtaining Service tax registration?
Failure to apply would result in penalties of Rs. 5,000 or Rs. 200 a day, whichever is higher.
5. When is the service tax return to be filed?
Service Returns are filed half-yearly. Returns are to be filed twice a year on 25th October and 25th April for the half-year ending September and March respectively.
6. Who must file this Return?
All persons or entities liable to pay this tax or having service tax registration must file service tax return.
7. What is the penalty to file Service Tax Return late?
The fine is Rs. 500 if the delay is up to 15 days, Rs. 1000 if the delay is up to 30 days and an additional Rs. 100 per day thereon, subject to a maximum of Rs. 20,000.