A company into training and placement service wherein the total gross receipts is less than Rs. 50,000/- per annum had applied and got its service tax registration number in 2005. As they fall far below the limit, they failed to file nil returns since registration to date. They didnt even receive any notices from the department yet.
Now the Board of Directors had decided to wind up their business as they have contineous losses and are particular in surrendering/cancelling their company's service tax registration.
What is the procedure for cancellation?
What are the late penalty charges or fees for nil returns and cancellation charges?
How much time does it take to close this case?
Please update with latest info related to this. Thanks.
1) IN SUCH A SITUATION the assesee should surender the service tax registration certificate ST-2 to the superintendent of central excise. on reciept of the certificate the superintendent of central excise will cancel the registration provided the assesee had paid all the dues of service tax if any,as per rule 4(8) of of the
service tax rules 1944
2) threshold exemption of Rs 4lakh has been itroduced by notification No 6/2005 ST dated 1-3-2005
if the company has not opted for threshold exemption under notification no6/2005 there will be a normal duty liability @ of 12% + education cess.since the company will be listed under man power recruitment agencies.
3) maximum of thirty days it may take to to close this case.
We have issued bills of service tax but 1 bill of sevice tax payment is not received.
Since we are not likely to exceed the limit of 8,00,000/- 9,00,000/- lakh in future we will not be requiring Service Tax Registered Certificate. So we want to cancell the Service tax Number. What is the proceedure of service tax canncellation
(7) Every registered assessee, who ceases to provide the taxable service for which he is registered, shall surrender his registration certificate immediately [to the Superintendent of Central Excise.]6
[(8) On receipt of the certificate under sub-rule (7), the Superintendent of Central Excise shall ensure that the assessee has paid all monies due to the Central Government under the provisions of the Act, and the rules and the notifications issued thereunder, and thereupon cancel the registration certificate.]6