What is Form A1 service tax?
Form – A. Application for refund of CENVAT credit under Rule 5 of the CENVAT Credit Rules, 2004. Form – A1. Declaration by the SEZ Unit or Developer for availing ab initio exemption.
Who is liable for service tax?
the service provider
Person liable to pay service tax The tax is normally payable by the service provider. However law empowers the Government to notify a person other than the service provider to pay the service tax.. In some of the cases liability of payment of service tax has been shifted to the service provider.
How can I file service tax?
Annual Return under Service Tax
Service Tax – As per Rule 7(1) of the Service Tax Rules, 1994, all the assessees registered under service tax are required to file service tax returns on a half yearly basis. The half yearly return is to be filed by 25th of the month following the particular half year.
What is the rate of service tax?
15%
2016 Union budget of India has proposed to impose a cess, called the Krishi Kalyan Cess, at 0.5% on all taxable services effective from 1 June 2016. The current service tax is at 15%.
What is st3 in service tax?
What is ST-3 Return? It is a self assessed statutory document notified by the Central Board of Excise and Customs which functions under the Ministry of Finance for the service providers to enable them to declare the value of taxable services provided or received by them and the taxes paid by them for the same.
What is a St 4?
SALES TAX. FORM ST-4. EXEMPT USE CERTIFICATE. To be completed by purchaser and given to and retained by seller.
Who is exempt from service tax?
Any service that is offered to any international organisation or to the United Nations is exempt from service tax. Any service that is offered to units of Special Economic Zones or to Special Economic Zone developers is exempt from service tax.
Is it compulsory to give service tax?
In 2017, the government had said, “As per the approved guidelines on service charge, service charge is totally voluntary and not mandatory now.
Is it compulsory to pay service tax?
‘ The press release by the Central Consumer Protection Authority (CCPA) stated that no hotels or restaurants can add service charge by default to the food bill. Further, consumers cannot be forced to pay this charge as it is voluntary and optional, and it shall not be collected by any other name either.
How do you do ST 3?
Go to → www.aces.gov.in → Service Tax → Enter User Name and Password → Go to RET Menu → Fill ST-3 → Select Complete ST-3 → Enter the Period for which the return was being filled → Click on the Hyperlink of the return appearing on the screen → The ST-3 will open up from the first page with the all data that were keyed …
What happens if service tax return is not filed?
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.
What is tax-exempt form?
An exemption certificate is the form presented by an exempt organization or individual to the seller when making a tax-exempt purchase. Exemptions are based on the customer making the purchase and always require documentation. Different purchasers may be granted exemptions under a state’s statutes.
What is a resale certificate?
A resale certificate is a signed document that indicates that the purchaser intends to resell the goods. It is usually provided by a retailer to a wholesale dealer. In addition, manufacturers issue resale certificates to suppliers of materials that become incorporated into the products they manufacture.
Is it mandatory to pay service tax?
Service charge is different from service tax, which is a statutory levy under the Goods and Services Tax. It is not mandatory under Indian consumer laws, according to the consumer affairs ministry.
What happens if service tax is not paid?
Penalty for Non-Payment of Service Tax
A person is liable to 10% penalty of his service tax in case of non-payment of the same. No penalty if service tax and interest is paid within 30 days of service of notice.
What is the penalty for service tax?
What is exemption certificate?
a) Complete exemption certificates are: certificates that do not have expiry dates but take effect on a date that is dependent on the qualification based on which it is awarded.
What is limit of tax exemption?
Income tax exemption limit is up to Rs 2,50,000 for Individuals , HUF below 60 years aged and NRIs. An additional 4% Health & education cess will be applicable on the tax amount calculated as above. Surcharge: 10% of income tax, where total income exceeds Rs. 50 lakh up to Rs.
How do I become a reseller?
You can follow these steps to become a reseller:
- Source stock. Find stock you can resell.
- identify your selling channels. Once you have your stock, you can find ways to reach your target audience.
- Register the business. You can register the business to get a business license.
- Get your resale license.
What does a resale mean?
“selling again
The common meaning of “resale” is the act of “selling again.” A sale is made for resale where the seller knows or has reasonable cause to believe that the goods or services will be resold, whether in their original form, or in an altered form, or as a part, component or ingredient of another article.
What happens if I dont pay service tax?
What happens if you don’t pay service tax?
What is an exemption type?
What Is an Exemption? An exemption reduces the amount of income that is subject to income tax. There are a variety of exemptions allowed by the Internal Revenue Service (IRS). Previously, the two most common types were personal and dependent exemptions.
What is full exemption?
Is tax exemption upto 5 lakhs?
Here are the tax slabs that apply to Indian citizens: Income Tax exemption limit for all Indian Citizens (below 60 years) is still INR 2.5 lakh. Income Tax exemption limit for Senior Citizens (60 years or above) is still INR 3 lakh. Income Tax exemption for Very Senior Citizens (80 years or above) is still INR 5 lakh.