Sunday, August 21, 2016

Service Tax Payment Rules


Service Tax Payment Rules:

Service tax payment rules are defined under Rule 6 of service tax.

Listed below are some of the important rules under the category:
Service tax should be paid to the Central Government by the 5th of the month following the month in which payments were received.
The assessee should deposit the tax with a bank designated by the Central board of Excise.
The assessee can adjust the excess service tax paid by them if they have paid for a taxable service not provided by them.

Service Tax Registration Rules:

Listed below are some of the important rules under the category of service tax registration:
Every individual liable to pay service tax should register through Form ST-1 within 30 days from the date on which service tax was levied.
If an assessee is providing more than one taxable service, they can mention all the taxable services provided by them in a single applica

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