About Service Tax Return Filing
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Service Tax Return Filing
Service Tax Return Form ST-3 must be filed twice in a year. Return for half year ending 30th September and 31st March are required to be filed by 25th October and 25th April, respectively.
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Service Tax Payments
Service Tax Payments must be made on quarterly basis in case of Proprietary Firms, Partnership Firms and LLP while in case of Companies, Trusts, Societies, etc., Payment to be made on monthly basis. E - Payment of the Service Tax is mandatory for ALL assesses w.e.f. 01-10-2014.
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Penalty on Late Filing of Service Tax Return
| Late Filing of Return |
Amount of Penalty |
| Delay Up to 15 Days |
Rs. 500 |
| Delay >15 Days to < 30 Days |
Rs. 1000 |
| Delay > 30 Days |
Rs.1000 + Rs.100 for each day but not exceeding Rs. 20,000 |
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Penalty on Late Payment of Service Tax
| Delay of Payment |
Interest Payable** |
| Up to 6 Months |
18% |
| More than 6 Months & Up to one year |
24% |
| More than one year |
30% |
** Note: 3% concession in interest rate for assesses having turnover up to Rs. 60 Lacs.
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Mandatory Registration
Service Tax is applicable on all businesses having turnover over Rs.10 Lakh in a Financial Year; registration being compulsory on the turnover touches Rs. 9 Lakh.
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Rate of Service Tax
In the Budget 2015 Rate of Service Tax has increased from 12.36% to 14%. This new Rate of Service Tax is applicable from 1st June, 2015.
Moreover from 15th November, 2015 Swachh Bharat Cess @ 0.5% has been also applicable. Therefore the effective Rate of Service Tax is now 14.5% with effect from 15th November, 2015.
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