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What's New Important due dates for the month of October 2020     
 

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Legal Requirements for service tax

  1. Value of Taxable services-10.30% on Gross amount charged from customers.
  2. Tax Deposited- for Prop/ Partnership firm & others
          Date of Tax deposit- Quarterly
          For 1st Quarter (April to June)……………………………….Up to 5th July
          For 2nd Quarter (July to Sep)………………………………..Up to 5th Oct
          For 3rd Quarter (Oct to Dec)…………………………………up to 5th Jan
  3.       For 4th Quarter (Jan to Mar)…………………………………Up to 31st Mar
    .
For Company
Date of tax deposit – Monthly
Date of Tax Deposit- up to 5th of every month but March tax up to 31st March
Due date for filling of Service tax Return:

Each half-yearly return should be submitted within 25 days from the end of half year period

Half Year period

Due date

April to September

25th October

October to March

25th April

 

PENALTIES
Penalty Interest on Service Tax Liability @ 15% per annum in case of TO is less then 60Lac and 18 % in case of more than 60Lac andRs 200 or more per Day as the case may be.

Note – EVEN in case of ‘NIL’ service provided, the service tax return is compulsory to be filed.

Mandatory Penalty for Late filing of ST-3 Return

Sl. No.

Period of Delay from the prescribed date

Penalty

1

15 days

Rs.500/-

2

Beyond 15 days but not later than 30 days

Rs.1000/-

3

Beyond 30 days

Rs.1000/- plus Rs. 100/- for every day from the thirty first day till the date of furnishing the said return

Documents required for filling service tax return

  • Service tax is to be filled in FORM  ST-3 in Triplicate (3copies)
  • Copy of challan (GAR-7)

Filling of revised return of service tax

An assessee may submit revised return in form ST-3 to correct a mistake, within the period of 90 days from the date of submission of return.
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