What is service tax registration?

The service tax registration is a mandatory tax registration for companies providing services in India. The service tax record is an indirect tax in which the service provider pays the tax and recovers it from the recipient of the taxable service. Since the introduction of the service tax, the scope of the tax has increased considerably from year to year. The share of the service tax in total government tax collection has also increased substantially.

Service tax compliance has also increased in quantity and complexity since its introduction. The service tax registration service fully adheres to the relevant rules and regulations. The registration of the service tax can be done online without problems. The central excise and customs board purchased a new software called ACES (Central Consumption and Service Tax Automation) to improve service to taxpayers.

ACES understands the entire tax process, including registration, returns, accounts, refunds, etc. In addition, service tax registration can be done online through ACES. A) you have reimbursed the payment or part of it, thus received for the service provided to the person from whom you received it or. Ii) For services related to the auxiliary insurance service by an insurance agent, the service tax shall be paid by the insurance company.

The documents required for the registration of service taxes in both modes are listed separately below. Iv) For taxable services provided by mutual fund distributors in connection with the distribution of mutual funds, the service tax shall be paid by the Mutual Fund or the Asset Management Company receiving such service. Service tax revenues for the Government of India have been steadily increasing since its creation in 1994.However, when applying for registration, all taxable services provided by the person must be mentioned. Or in other words, the service tax applies to certain services provided by the service provider, the recipient of the service, or any person who is responsible according to the Central Government of India.

I would recommend Rajput Jain %26 Associates to any company that requires a comprehensive accounting and tax service. B) has issued a credit note for the value of the service not provided in that way to the person to whom the invoice was issued. If the appraiser has opted for the provisional payment of the service tax, he must file the service tax return on form S. The service provider must request registration well in advance, which is normally granted within 7 days of the submission of the application.

The scope of the service tax has expanded since its introduction and has now moved to the negative list regime of the previous inclusive regime i. Failure to obtain registration would be sanctioned under Article 77 of the Finance Act 1994, read in conjunction with Rule 4 of the Services Tax Regulations 1994.