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V J M & Associates LLP

Delhi

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Service Tax

Providing you the best range of Service Tax Procedure & Refund, Input Service, Service Tax Registration, Audit/Pre-Audit, Indirect Tax Advisory and Direct Tax Compliance Service with effective & timely delivery.

Service Tax Procedure & Refund
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Service tax is an indirect tax which is levied upon the taxable services defined u/s 66B of finance act 1994. Generally the service provider is liable to collect the service tax from service receiver and deposit the same to the central govt. account this account is administered by the Central Excise Department.

What does service means?

‘Service’ has been defined and means -any activity for consideration carried out by a person for another excluding services under negative list but includes a declared service. The said definition further provides that ‘Service’ does not include

  • Any activity that constitutes only a transfer in title of goods or immovable property by way of sale, gift or in any other manner or
  • A transfer, delivery or supply of goods which is deemed to be a sale of goods within the meaning of clause (29A) of article 366 of the Constitution.
  • A service provided by an employee to an employer in the course of the employment.
  • A transaction only in money or acti
  • Fees payable to a court or a tribunal set up under a law for the time being in force.
  • onable claim.

To determine whether you are a “service” provider or not ask following question to yourself

  • Am I doing any activity for another person?
  • Am I doing such activity for any consideration?
  • Whether such activity consists of transfer of goods or immovable property?
  • Is such an activity in the nature of a service provided by an employee of such person in the course of employment?
  • Does this activity consist only of a transaction in money or actionable claim?

Once a person indulges in providing taxable services and his turnover exceeds Rs. One million during any financial year he must have to register himself under service tax department.

Rate of service tax:

At present, the effective rate of Service tax is 12.36 %. The above rate comprises of Service tax @ 12 % on “Gross Value of taxable service”. Education cess [EC] @ 2 % on service tax amount Secondary and Higher Education cess [SHE] @ 1 % on service tax amount.

Interest and penalties for non compliance of service tax rules and regulations:

 

What VJM & Associates Offers

With a very extensive experience in service tax online services, we are adept in this field. We have been rendering our services in the following area:

  • Service tax audit,
  • Registration under Service tax,
     We provide assistance in getting registered with service tax department, collecting of all data required for filling form ST-1
  • Preparation and filing Returns.
     Assistance in filing of returns as per the relevant provisions of the service tax law:
    Preparation of service tax returns on half yearly basis ( to become monthly soon);
  • Consultancy for maintenance of proper records and proper accounting.
  • Assisting in computation of service tax payable
     Assistance in computation of tax payable as per the relevant provisions in the service tax laws.
     Assisting in collating the data for output (including data for payment of service tax under reverse charge basis) and input services (month wise) for computation of tax liability;
     Examining and calculating set off / input tax credit to calculate the tax liability
  • Consultancy on various issues relating to Service Tax.
  • Assistance with respect to Assessment proceedings
     Presenting the client before various authorities,
     collating information and preparation of Assessment files;
     Review and analyzing the assessment order issued by department,
  • Compilation of data of Cenvat credit.
  • Assistance in availment of notified Abatements.

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Input Service
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Input Service

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An office who is receiving only input services and not providing any outputt service can distribute the CENVAT Credit of the service tax paid on input services. An input service distributor must make an application for registration within 30 days from the commencement of business.

§ The assessee has to give some information like his name, address and the category of services rendered except in the case of registration of a Stockbroker. The Service Tax (Amendment) Rules, 2001, with effect from 16-7-2001, has inserted a new column No 2A in Form ST-1 for furnishing PAN Number by the Assessee. If PAN has not been allotted or applied for, the same is to be indicated.

§ A certificate of registration in Form ST-2 shall be issued within 7 days from the date of receipt of the application in Form ST-1. However if the registration certificate is not granted within the 7-day period, the registration applied for shall be deemed to have been granted. In the latter case where registration is deemed to have granted a slight anomaly may arise owing to the non-allotment of registration number in the light of the fact that Circular No. V/DGST/30-Misc-29/2001/3674 dated September 18,2003 read with the Service Tax Credit Rules, 2002 require all service providers providing taxable services to quote their registration number on their invoices.

§ Every instance of transfer of business of a registered assessee to another would entail the obtaining of a fresh certificate of registration.

§ Every registered assessee, who ceases to provide taxable service, for which he is registered, shall surrender his registration certificate immediately.

§ The registration certificate issued to an assessee can be amended on various grounds namely change in address of business premises, change in name and style of firm etc.

§ There is minimum/threshold limit that is prescribed for registration. if you are engaged in providing a service which fall under the scope of specified taxable services, you are liable for service tax, unless specifically exempted (like aggregate value of services rendered in the entire financial year do not exceed Rs 10 Lakhs).

§ Service tax is currently levied on more than 114 notified categories of services.

§ Failure of registration may attract a penalty up to Rs.1000/ – under Section 77 of the Finance Act, 1994.

§ Service Tax Code (Registration Number) 15-digit number (Based on PAN of the assessee).
Ex: STC No+ PAN+ ST+ 001 Ex: ABXFC1234AST001.

 

What VJM & Associates Offers

We offer service tax registration services at affordable price, which meet the client’s requirements and expectations completely. We also offer our service tax online registration services for pan India basis. With the help of our legal advisers and consultants, we are able to comprehend to the requirements of our clients. We can assist and take care of all formalities and procedure required from start to finish till you get the service tax registration certificate. We hope you were able to find all the information you need for applying for service tax registration. For any feedback feel free to contact us

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Service Tax Registration
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Service Tax Registration

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SERVICE TAX REGISTRATION PROCEDURE

Section 69 of the Finance Act, 1994 read with Rule 4 of the Service Tax Rules, 1994 prescribe the manner and form for registration as an assessee, of any person liable to pay service taxin accordance with the provisions of Section 68 of the Finance Act, 1994. Below set, in brief is the procedure for registration:

  • The first step for Service Tax Registration is to create Online User ID at the Online Service Tax Services website at aces.gov. in
  • After Online User ID is registered Fill online Service Tax Registration Form ST1 and generate online acknowledgement for the ST1 filed
  • Take Printout of Online Acknowledgement generated after filing form ST1 at the Service Tax website
  • Send Signed copy of Online Acknowledgement along with signed hard copy of all documents required as provided below to your nearest Service Tax Office.
  • An application for registration in Form ST-1 has to be made to the concerned Superintendent of Central Excise within 30 days from the date on which service tax becomes leviable. However, where a person has commenced his business for providing taxable services after the date when Service Tax is levied, the application for registration is to be made within 30 days from the date of commencement of business. Penalty is levied in case the service provider fails to seek registration within the prescribed time limits.
  • Registration: The service provider whose gross receipts exceeds Rs. 10,00,000/- (One Million Rupees) needs to be registered with the Service Tax Department. The gross receipt upto the extent of Rs. 1,00,000/- are exempt from Service Tax. However, this exemption is available only once till the gross receipts have not crossed the Rs. 10 lacs limit. Once the gross receipt exceeds Rs. 10 lacs, the services provider needs to collect and pay service tax on each billing.
What VJM & Associates Offers

Since the introduction of Service Tax, the scope of the same has increased considerably from year to year. The share of Service Tax in the total tax collection of the government has also increased substantially. Compliance with Service Tax have also increased in quantum and complexity since its introduction. The Service-Tax Registration service adheres completely to the concerned rules and regulations.

We offer service tax registration services at affordable price, which meet the client’s requirements and expectations completely. We also offer our service tax online registration services for pan India basis. With the help of our legal advisers and consultants, we are able to comprehend to the requirements of our clients. We can assist and take care of all formalities and procedure required from start to finish till you get the service tax registration certificate. We hope you were able to find all the information you need for applying for service tax registration. For any feedback feel free to contact us

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Audit/Pre-Audit
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Audit/Pre-Audit AUDIT / PRE-AUDIT SERVICES UNDER CENTRAL EXCISE & SERVICES TAX AUDIT

In conventional sense, Audit is refer to verification and scrutiny of documents, transaction and events and processes in order to verify facts and draw conclusions considering the correctness of recording of facts and the efficiency of a system under study.

For Central Excise concern, Audit is refer to scrutiny of the records of Assessee and verification & examination of the actual process of manufacturing of goods, classification of goods, correct valuation, measurement ,proper usage of exemption notifications, export of goods, remission of duty, payment of duty, etc. with a view to check that whether the Assessee is enable to paying the Central Excise duty correctly and in timely and following the prescribed procedures.

For Service Tax concern , Audit is refer to examination of scrutiny of the records of Assessee and verification of the real provision of services, realization of sale proceeds, correct classification of service , timely discharge of tax liability, timely submitted of returns / information etc. with a consider to check that whether the assessee is enable to paying the Service Tax correctly and following the prescribed procedures.

For Cenvat Credit concern, Audit is refer to scrutiny of the records of assessee and verification of the receipt of Capital Goods, Inputs, accounting, Input Services, availing, utilizing, timely discharge of tax liability, reversing etc. of credit. Refund of cenvat credit in case of export, optimum cenvat credit in case Exempted and Non Exempted Goods are manufactured / Services are provided.

In the conventional / traditional system of Central Excise Audit / Service Tax Audit, Audit Parties of the Department visit assessee unit / premises. The main objective of above audit is to check compliance of procedures and also leakage of revenue.

CERA (Central Excise Revenue Audit) or EA-2000 is Audit exercise which is done by the departmental officers

‘FIRE PREVENTION’ IS BETTER THAN ‘FIRE FIGHTING’.

According to our experience if a periodical Central Excise Audit / Service Tax Audit (with Cenvat Audit) is carried out by the internal auditors, the management will get great aid to realize the areas of wrong payment of central excise or service tax or incorrect availment of cenvat credit and get aid in taking the corrective action immediately.

Simultaneously, if a unit reaches its Central Excise / Service Tax records and documents audited before departmental audit, that unit can consider the departmental auditors get more confidence and claim that its records are clean. We recognise this exercise as pre-audit service.

Under Internal Audit, the auditor take its main focus from both prospective i.e. the approach of the revenue (departmental) auditors from revenue leakage prospective and correct and timely discharge payment of duties and taxes while getting all the benefits available in the statue upto the maximum level.

It has been considered that in sometimes, the units are paying ignorantly more taxes / duties or due to wrong impression of certain provisions of the law. On the other side, some units are not availed / utilized the full eligible cenvat credit either on the Capital goods or inputs or input services due to ignorance.

Even large units which having advanced accounting and inventory software may lack in compliance of Central Excise / Service Tax and Cenvat Credit to the optimum level due to reason of complexity of the provision of the acts and rules made there under.

So, a unit should gets its Cenvat Credit Records / Excise Records / Service Tax records audited / checked by experts to ensure / confirm the unit is discharging its excise duty / service duty liability correctly and timely while making optimum tax planning

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Indirect Tax Advisory

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Direct Tax Compliance Service
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