12 October 2007
FORM ST-1 IS REQUIRED TO BE FILED FOR SERVICE TAX REGISTRATION WHEN A SERVICE PROVIDER PROVIDES TAXABLE SERVICES. THE SERV. PROVIDER IS EXEMPT UPTO RS. EIGHT LAKHS ANNUAL RECEIPTS UNDER THE SERVICE TAX ACT. BUT THRESHOLD LIMIT FOR REGISTRATION IS RS. SEVEN LAKHS. RATE OF SERV. TAX IS 12.36%. BESIDES REGISTRATION THE SERV. PROVIDER HAS TO COLLECT THE TAX AND DEPOSIT WITH GOVT. AND FILE HALFYEARLY RETURNS. AT PRESENT 105 TYPES ARE COVERED UNDER TAXABLE SERVICES. PL. VISIT www.servicetax.gov.in FOR MANY MORE DETAILS.OURCACLUB PORTAL ALSO HAS THOSE DETAILS. R.V.RAO
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