Wednesday, August 17, 2016

Procedure for Online Registration of Service Tax

Service tax is the tax imposed by the government on the service providers on certain transactions and it is borne by the consumers. It was introduced in the Finance Act of 1994, it is an indirect tax levied on the services. Any service provider or organization that provides the taxable service over nine lakh must register the service tax because it helps the Department of Service tax to identify assesses and keep on track of all the aspects of compliances. The service providers collect 15 percent of the consumers and pay the service tax to the government. The registration includes the filing of the returns; maintaining the compliances according to the service tax policy and to deposit the service tax. Those service providers who fail to register will have to pay penalty and interests. Except for the service providers in Jammu and Kashmir, all the other service providers in India must pay the tax to the government.

Tax registration

The Automation of Central excise and service tax (ACES) is software introduced by the Central Board of Excise tax and customs. This software makes the service better for the taxpayers because it includes the complete tax process like the registration, accounts, tax returns and refunds and other facilities.

To register the service tax, the taxpayer must register themselves in the Automation of Central excise and service tax by logging to the official site of the ACES that is www.aces.gov.in . In the homepage, the user has to select the Service Tax from the options given on the top of the page and select the ‘New user’ option. The selected option redirects them to the registration page. The user has to provide the basic information like the name of the unit, contact number, designation, email id and etc to register and submit the form. Within 24 hours of submission of the application, the user will receive the username and the password tn their registered email address.

Service Tax registration

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