Service Tax Registration

Indirect tax imposed only on services provided, no service tax registration till Rs. 9 lakhs.

Get Service Tax Registration for just Rs. 1,499/- all-inclusive

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“GENERAL AWARENESS”

REGISTRATION

Service Tax registration is a function of gross turnover. Once the turnover of the assessee crosses a threshold limit of Rs 9 lacs, the service provider is required to get itself registered under the law, and compulsorily required to charge service tax on services provided once the turnover crosses Rs 10 lacs.

RATE OF SERVICE TAX

The Service Tax Rate applicable from 1st June 2015 is 14%. The rate is an inclusive rate and SHEC and Education Cess is not required to be charged above this.

Moreover from 15th November 2015, Swachh Bharat Cess @ 0.5% would also be applicable. Therefore effective rate of Service Tax would now be 14.5% with effect there from.

PAYMENT OF SERVICE TAX

Every assessee is required to pay tax electronically. AC or DC of Central Excise may for reasons to be recorded in writing, allow the assessees to deposit the service tax by any mode other than internet banking.

CHARGEABILITY

Service Tax is charged at the time of rendering services, in normal circumstances. However, there may be a situation where service tax is charged before rendering services or after completion of service. The important thing to note here is the timing of chargeability and the rate of chargeability. Chargeability arises when services are rendered, while the rate is determined at the time of payment by service receiver.

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