Service tax is a tax imposed by government of India on services provided in India. Service Tax Registration is a tax registration required for person 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% on the value of the taxable service. This includes swatch Bharat cess of 0.50 (half) percent on service tax. Where as from First June rate will be 15 %fifteen percent for service tax.. The service tax rules mandates online application for registration. Service Tax registration is compulsory for every person who has provided a taxable service of value exceeding Rs.9 lakhs, in the preceding financial year.
Service Tax Registration holder need to file returns twice a year, irrespective of where turnover crosses basis exemption limit of ten lac. Half yearly service tax return need to filling for April to September due date is 25th October and for October to March due date is 25th April.
For default in filling service tax return late fees 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 per return.