What was the service tax rate in 2014 15?
What was the service tax rate in 2014 15?
The rate of Service Tax was increased from 12.36% to an all inclusive, flat 14%, which included Subsuming Education Cess and Secondary & Higher Secondary Education Cess.
What is a calendar tax year?
Calendar year – 12 consecutive months beginning January 1 and ending December 31. Fiscal year – 12 consecutive months ending on the last day of any month except December. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month.
What are the due dates for filing of service tax return?
Service Tax Return Due Date Service Tax Return is to be filed once every six month period in a financial year. 25th April is service tax return due date.
How is the calendar calculated?
The Gregorian calendar is the calendar used in most of the world. The calendar spaces leap years to make its average year 365.2425 days long, approximating the 365.2422-day tropical year that is determined by the Earth’s revolution around the Sun.
Can service tax return be filed now?
(a) Assessee can e-file Service Tax Return (ST-3) for the period April, 2015 to September, 2015 now through offline or online version.
Can service tax be paid now?
As you are aware, currently taxpayers are making payments of Central Excise duties and Service Tax arrears through EASIEST Portal, DG Systems has now integrated payments of CE & ST with ICE GATE portal and the new payment gate way portal “CBIC (ICEGATE) E-payment” will be operational w.e.f., 1st July, 2019 onwards.
Is it mandatory to pay service tax?
So, as per law, Service Tax has been phased out by GST and customers are not supposed to pay it. However, the Service Charge is still applicable.
What if service tax is not paid?
If an assessee has not filed his or her service tax return, then a late payment fee of Rs 500 will be charged for the initial 15 days of delay. If an assessee has not filed his or her service tax return, then a late payment fee of Rs 1,000 will be charged for delays ranging from 15 to 30 days.
When to file tax return for AY 2014-15?
For Financial year 2013-14 (AY 2014-15) belated (late) return can be filed by 31.03.2016 (i.e one year from end of assessment year 2014-15 ending 31.03.2015) No revision : Late (belated ) return Can not be revised.
When do you have to pay service tax?
By 5th of the month immediately following the month .However, in case of March, the payment should be made by 31st March.
Is it compulsory to pay service tax abatement?
It is not compulsory to avail abatement. service provider can pay service tax on full amount. The rate will be 12.36% of value that time. Under reverse charge mechanism, service tax is paid full or partially by service receiver. To know more about reverse charge mechanism, read following post
How is the rate of service tax being changed?
1. The Basic rate of service tax is being increased from ten per cent. to twelve per cent. 2. Consequent to change in the rate of service tax, changes are also being made in specific and compounding rates of tax for the following: a. For Life Insurance under Rule 6 (7A) (ii) of Service Tax Rules, 1994
