According to Rule 5 of Service Tax Rules, 1994, records include computerized data and means the record as maintained by an assessee in accordance with the laws.
Every assessee is required to furnish to the Central Excise Officer at the time of filing his return for the first time a list of all accounts maintained by the assessee.
SService tax is only liable to be paid in case provided during the financial year is more than Rs. 10 Lakhs. If the value is less than 10 Lakhs, it is optional to pay service tax.
In this case, the service provider pays the tax and recovers it from the customer. Service Tax was earlier levied on a specified list of services were also included in the list of services.
Service tax is a tax on services provided. The provisions of service tax are contained in chapter V of the Finance Act, 1994. The word ‘Service’ is not defined in Finance Act, 1994.
You use services of eCommerce Portal(e.g. eBay, Amazon, Snapdeal) & get orders. In this case, you are the vendor & your customer is the end user.
When sale or purchase is made from one state to another it is governed by Central Sales Tax Act 1956, the rate applicable for particular goods will be taxed according(1%, 2%, 4%, 12.5%).
Full compliance may be hard to achieve across different RGMs, complex corporate structures and multiple IT systems leading to risks and inefficiencies
Registration shall mandatorily require that the Permanent Account Number (PAN) of the proprietor or the legal entity being registered be quoted in the application with the exception of Government Departments for whom this requirement shall be non-mandatory. Applicants, who are not Government Departments shall not be granted registration in the absence of PAN
Service tax is an indirect tax levied on the services provided by a service provider in India. Service tax is paid by the end consumer of the service and the service provider is responsible for collection of remittance from the recipient of the taxable service. At present, Service Tax is levied at 12.3% on the value of the taxable service.
Service tax registration is mandatory for every person or business in India that has provided a taxable service of value exceeding Rs.9 lakhs, in the previous financial year. IndiaFilings provides service tax registration services.
The due date for payment of service tax collected is determined based on the type of business entity. IndiaFilings can help you file e file your service tax return online. Our service tax experts can help you compute your service tax liability, e file the service tax return and keep you in compliance with service tax regulations.
It is an indirect tax. Service tax is a tax on services provided .The provisions of service tax are contained in chapter V of the Finance Act, 1994 and administered by the Central Excise Department. The word ‘Service’ is not defined in Finance Act, 1994.