Service Tax Registration

Today it can be seen that the Indian economic scenario is developing at a never before pace. It is incredible how the physical markets have now found their new counterparts in the virtual world. This dynamic and challenging business age of present India is attracting lot of young citizens towards itself. However, the most appalling of all business formalities, the legal work, remains inevitable for the entrepreneurs.

Also, a lot of entrepreneurs are not even aware of their duties and rights, one of which is obtaining service tax registration. This is the reason eFilingportal is bringing to you all the required information and assistance for obtaining Service Tax Registration.

Service Tax is a tax that is imposed by the Government of India on various kinds of services provided in India. The service provider is the one who collects the tax and pays the same to the government. It is an indirect tax levied on services specified by the Central Government under the Finance Act, 1994.

Almost all services that are provided in India are taxable and service tax registration is mandatory for all those service providers in India who have taxable service of value exceeding Rs.9 lakhs, in the previous financial year. Any service provider who has provided taxable service of value exceeding Rs.9 lakhs in the preceding financial year has to apply for obtaining service tax registration certificate. In case of a startup, a person is required to obtain service tax registration within 30 days of commencement, if the business will have taxable services that exceed Rs.9 lakhs.

In order to file for obtaining the certificate, one has to fill Form ST-1 and attach the required documents with it. Certain documents are required in the process of obtaining service tax registration. These documents are:

• Copy of PAN Card
• Proof of address of the business for example Partnership deed, Incorporation Certificate,etc,.

Under normal circumstances, Service tax registration certificate is issued by the Government within a period of seven days from the date of submission of application ST-1 along with all the relevant documents. In case the registration certificate is not issued within seven days, the registration applied for is deemed to have been granted.
Also, it is important to note that in case of failure of obtaining registration certificate, a penalty of upto Rs.10,000/-, 5000/- or Rs.200/- for every day during which the failure continues, whichever is higher, can be levied.

For detailed information on service tax registration and filing for obtaining your certificate without getting into any fuss, log on to www.eFilingportal.in

This article is about service tax registartion and online service tax registration for more information please visit our website: https://www.efilingportal.in