service tax

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Kumar

Accountant

70 Points Posted on 22 May 2011

We have a small computer institute running from last two year, there was loss in first year & very low income in the second year (means income is much low 10,00,000/- pa), we provide computer training & placement. We had taken voluntary service tax no. before 2 year at the time of starting office. Please tell us should we start filling nil tax return or if we don’t file return there will be any penalty for that. We had not file any return yet. Also, should we mention service tax no on our invoice, where we are not charging any service tax? Please Suggest.

9811660653

Replies (2)

U S Sharma

glidor@gmail.com

21670 Points Posted on 23 May 2011

1) filing of return is mandatory ( even nil return is to be filed in time)

2) service tax does not ask for profit/income or loss, but gross receipt / taxable service provided.

3)you have to show your registration no on invoice, and service tax - NIl upto exemption limit

Ajay Raghatate

Sr Executive (Excise & Accounts)

629 Points Posted on 24 May 2011

you have to submit half yrly ST3 Return with penalty of Rs. 2000/- even if your Service tax liability is Nil. for previous year

And for Last ST-3 Return ( Oct10-Mar11) you have to pay (i) fifteen days from the date prescribed for submission of such return, an amount of five hundred

rupees;

(ii) beyond fifteen days but not later than thirty days from the date prescribed for submission of such

return, an amount of one thousand rupees; and

(iii) beyond thirty days from the date prescribed for submission of such return an amount of one

thousand rupees plus one hundred rupees for every day from the thirty first day till the date of

furnishing the said return: Maximum Rs.20000