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*COMPLIANCE MANAGEMENT UNDER SERVICE TAX (PART-II)

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 30-10-2015 Last Replied Date:- 30-12-1899 - PROCEDURAL COMPLIANCES (A) Registration (Section 69) According to section 69 of the Finance Act, 1994, every person liable to pay the Service Tax under Chapter V or the rules made there under shall, within such time and in such manner and in such form as may be prescribed, make an application for registration to the Superintendent of Central Excise. Registration of Assessees In terms of Section 69 of the .....

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ce Distributors' are also required to register them as per Notification No. 26/2005-ST, date 7.6.2005 as amended. Persons liable to pay service tax under reverse charge mechanism. Centralized Registration An assessee has to register all locations from where taxable services are provided, or opt for one single registration. Amendments have been made to Rules 4(2) and 4(3) of the Service Tax Rules, 1994 to facilitate more than one centralized registration, i.e. more than one office of an asses .....

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uch period as may be prescribed; i.e., monthly or quarterly by 5th of the following month or quarter after the end of relevant month or quarter, as the case may be. In case of tax payable by individuals, proprietary concerns and partnership firms, it is payable on a quarterly basis. Thus, for the quarters ending in March, June, September and December, tax is payable by 5th of April, July, October and January respectively. In case of corporate and other assessees, tax is payable on a monthly basi .....

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hrough Bank s Internet banking service. Vide Notification No. 9/2014-ST dated 11.07.2014, e-payment of Service Tax is mandatory w.e.f. 01.10.2014 for all assessees. However, relaxation from e-payment may be allowed by the Deputy Commissioner or Assistant Commissioner on case to case basis. Rule 6(2) of the Service Tax Rules, 1994 has been amended with effect from 01.10.2014 to provide that - every assessee shall electronically pay the service tax payable by him, through internet banking; and the .....

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specific cases. E-filing of returns is mandatory w.e.f. 1.10.2011 for all assessees and in respect of all taxable services. Furnishing of Returns Section 70 contains provision for furnishing and filing of Service Tax returns. According to Section 70(1), every person liable to pay the Service Tax shall himself assess the tax due on the services provided by him and shall furnish to the Superintendent of Central Excise, a return in such form and in such manner and at such frequency as may be prescr .....

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copy of the Form TR-6 in triplicate for the six months covered in the half-yearly return. However, there is no such requirement to submit/deposit the hard copies of challans along with return copy to the Department as the return are now filed online. Every assessee shall submit the half yearly return by the 25th of the month following the particular half year except as notified otherwise for any specific period. E-filing of Returns The e-filing is a facility for electronic filing of service tax .....

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rect a mistake or omission, within a period of sixty [ninety w.e.f. 1-3-2008] days from the date of submission of the return under rule 7. (D) Invoice (Rule 4A of Service Tax Rules, 1994) Every person providing taxable service shall , not later than thirty days from the date of provision of such taxable service or receipt of any payment towards the value of such taxable service, whichever is earlier, issue an invoice, a bill or, as the case may be, a challan signed by such person or a person aut .....

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Rules, 1994) Records include computerized data as maintained in accordance with the various laws. Records maintained shall be acceptable to Central Excise Officer. Every assessee is required to furnish to Central Excise officer at the time of filing his return for the first time, a list in duplicate of - all the records prepared or maintained by the assessee for accounting of transaction in regard to- providing of any services receipt of input services payment of input services Receipt/ purchase .....

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PAYMENT OF SERVICE TAX (SECTION 75) Person who fails to deposit the tax or any part thereof within the prescribed period (Rule 6) is liable to pay interest under section 75 of the Finance Act, 1994. Interest is payable on the amount of service tax due. Interest is not penal in nature. Levy of interest is automatic and compensatory in nature. Interest under section 75 is mandatory liability. No discretion with any authority / appellate forum . Interest rate is 18% p.a. upto 30.09.2014 (except in .....

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1) 73(4A) Delay in payment of service tax where record of transactions is available in specified records and assessee pays tax, interest and penalty during audit/ verification/investigation. Reduced penalty of 1 per cent per month of tax amount for the period of default subject to maximum of 25 per cent of the tax amount 73B Delay in payment of service tax on amount collected in excess Simple interest @ 13 per cent per annum (w.e.f. 1.4.2011, @ 18% p.a.) Simple interest @ 15% p.a. w.e.f. 8.4.201 .....

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nd 30% for first 6 months, further 6 months and after one year. 75A Penalty for failure to obtain registration A fixed sum of ₹ 500 (non-discretionary for failure to make an application for registration under section 69 or Rule 4). 76 Failure to pay Service Tax W.e.f. 14-5-2015 Where Notice served u/s 73 (1) - Maximum penalty not exceeding 10% of the amount of Service Tax. Where Service Tax and interest deposited within 30 days of the date of service of notice, no penalty payable. Where Se .....

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n as per section 69 or Rule 4 of the Service Tax Rules 1994 ₹ 200 per day for every day till such failure continues after the due date till the actual compliance or upto ₹ 10,000 (w.e.f. 8.4.2011) whichever is higher; recently upto ₹ 10,000 w.e.f. 10.5.2013 77 (b) Failure to keep, maintain or retain books of account, other documents as per provisions/rules. Minimum not prescribed but upto a maximum of ₹ 10,000 (w.e.f. 8.4.2011) 77 (c) Failure to furnish information called .....

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is higher. Failure to appear before central excise officer when served with summon for appearance to give evidence or to produce any document in an enquiry. ₹ 200 per day of default till the actual compliance from the first day after the due date till the date of actual compliance or up to ₹ 10,000, (w.e.f. 8.4.2011) whichever is higher. 77 (d) Failure to pay service tax electronically, through internet banking, where required to pay electronically. Minimum not prescribed but amount .....

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i.e., service tax not levied or paid or short levied or paid or erroneously refunded due to fraud etc. Amended Penalty as per Finance Act, 2015 (w.e.f. 14.5.2015) Penalty will be 100% of Service Tax not paid; Penalty reduced to 15% of the service tax demanded, if service tax, interest and penalty are paid within 30 days of service of show cause notice; A reduced penalty equal to 25% of the Service Tax amount, determined by the Central Excise Officer by an order, is to be paid if the Service Tax .....

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