return & payment of service tax

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raj (Querist)

19 September 2010 from april 10 one of my relatives has started getting a monthly payment along with service tax 10% less tds 10%
He has now got a service tax no.

Q1 does he have to deposit the service tax every month or can pay qtrly, 6 monthly or yearly?

Q2 does he have to file returns for service tax qtrly, 6 monthly or yearly? How to file?

Q3 does he have to pay computed income tax every month or can pay qtrly, 6 monthly or yearly?

Rgds

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

19 September 2010
Q.1.Tax should be paid on quarterly basis for sole trader, partnership etc, and monthly payment are mandatory for others. Payment should within 5th day of the end of the month or quarter. June month or quarter of June payment should be paid on or before 5th of July.

Q.2. Service tax return is half yearly (April-Sep) due date is 25th October & October to March -due date is 25th April

Q.3. Income tax - Advance tax due dates only based on the projected Income tax for the year.

raj

raj (Querist)

19 September 2010 Thankyou Mr Ramesh.
In the form ST-3 they have asked - if you have opted for large tax payer?
what is this? The person in my query will have service tax of Rs 2 lakhs for the whole year.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

19 September 2010 Large Taxpayer unit i.e. LTU can be understood as a combined tax office acting as a single window clearance point for the three taxes i.e. Income Tax (personal and corporate), Central Excise and Service Tax in which returns of all these three taxes can be filed and assessed. LTU are administered by the Department of Revenue.

In service tax - as you are paying Rs. 2 Lakh for the year, you are not covered under LTU.

Please refer the link

https://www.servicetax.gov.in/notifications/notfns-2k6/st2806.htm

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