Hey friends - A very good evening to all the members of CCI family. After a hit completion of my part 1, i will like to introduce part 2 of my series.
In the part 1 we have discussed regarding basics of service tax, concept of ISD , Payment of service tax, etc. In this part we will discuss about return filing, CENVAT CREDIT.
So lets go for it my friends -
Service Tax return -
The service tax return is to be filed under section 70 of the Act read with Rule 7 of the Rules, by any person liable to pay service tax. The return is to be filed on half yearly basis, in form ST 3 for the period from Apr to Sept and Oct to March and it must be filed by 25 oct and 25 apr respectively.
Further ISD is also required to file ST return.
A single ST return must be filed in respect of all taxable services provided by an assessee.
E - filing of return -
With referance to notification No. 43 / 2011 ST , Online filin of ST Return has ben made compulsory w.e.f 1st oct 2011.
Delay in filing of return - ( Rule 7C )
(a) Rs 500 for delay upto 15 days.
(b)1000 for delay upto 30 days.
(c)1000 + 100 per day beyond 30 days not exceeding2000.
Revised Return - ( 7B )
If any mistake is found in the return, it can be revised within 90 days of filing of original return.
CENVAT CREDIT -
Community Resources
CAclubindia
