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SERVICE TAX ASSESSEES TO FILE ANNUAL RETURN

Service Tax - By: - Pradeep Jain - Dated:- 22-3-2016 - Introduction:- Although, with the government resorting to implement unified taxation regime GST in near future, it was hoped that the number of returns to be filed by an assessee would reduce substantially and this has been done in case of Central Excise Assessees which is highly appreciated by the trade and industry. However, at the same time, service tax assessees will be required to file Annual Return in addition to the half yearly return .....

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ined in sub-rule (1), every assessee shall submit an annual return for the financial year to which the return relates, in such form and manner as may be specified in the notification in the Official Gazette by the Central Board of Excise and Customs, by the 30th day of November of the succeeding financial year; (3B) The Central Government may, subject to such conditions or limitations, specify by notification an assessee or class of assesses who may not be required to submit the annual return re .....

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who may not be required to submit annual return subject to conditions of limitations prescribed in the notification. It is pertinent to note that as per Notification no. 17/2006-C.E. (N.T.) dated 01.08.2006 as amended by Notification no. 42/2008-C.E. (N.T.), a Central Excise Assessee, who has paid duty of excise less than one hundred lakh rupees during the financial year to which Annual Financial Information Statement relates is exempted from filing the said statement in Form ER-4 that is requir .....

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