ST Return Filing

ST Return Filing
As discussed in Step no 5 (Get your registration required) Service Tax is a form of Indirect Tax imposed on specified services called "Taxable Services"
Who need to file return?
Every registered Assessee (Who has taken ST Registration) required to File Service Tax Return Compulsorily for Service Tax collected on "Taxable Services"
Assessee is required to submit the details of Services Provided, CENVAT Credit availed and Service Tax paid to the Government, in the Return (Form ST-3).Bills raised by assessee for Services provided, inclusive of Service Tax is the basis for Service Tax Return
In selected services, Like Insurance agents, Mutual fund companies or import of services even the Service Receiver is also liable to pay service tax and accordingly file the return
Input Credit
Services received or consumed in order to render the services are eligible for Input Credit. The Credit is taken as set off (deducted) from the Service Tax liability.
Due date to pa service tax
The assessee is required to pay the Net Service Tax liability within due date
Due date for Service Tax payment is:
For April to Feb 5th of Next month or
6th of Next month (E-Payment)
For March 31st Mar

Penalty for Late payment
In case, assess fails to pay service tax within due date, he wiil be pay penal interest @ 18% p.a. In case turnover is less than 50 Lakhs than interest rate will be 15%.
Due date to file Return
Then the Service Tax Return is to be filled twice in a financial year (i.e. Half year ending 30th September and 31st March)
Due date for filling return is as follows:
For Half year ending 30th September 25th October
For Half year ending 31st March 25th April

In case of late filling of Return, penalty will be applicable as explained below :

Period of delay from due date Penalty
15 days Rs.500/-
Beyond 15 days but not later than 30 days Rs.1000/-
Beyond 30 days Rs.1000/- plus Rs.100 for every day from 31st day till return is filed
Subject to maximum of Rs.20,000/-

Why AKT Associates for Service Tax Compliance
Expertise-That counts: - We are handling more than 800+ successful clients, handling their service tax matters and providing them with services which cover Legal, Technical, Taxation and other business compliance part. That all says a lot on our ways of working and our expertise in the area.
Experience- That Matters:-At AKT associates we have been our client’s obvious choice from years. For serving you with the best results we use our experience of decades which has exposed us with deep understand of subject matter.
Efficiency-That reflects in everything:- With a strong team which comprises of experts with qualification like CA, CS, MBA & LLB and they all are available with the wholesome result, with dedicated customer service team and support staff. We are always there to execute your work efficiently.
Cost- That saves a Lot:-We touch the top position not just because we are the best in what we do but also because we know the value of your time and money. We know the value of your time so all the work by AKT Associates is performed on time and at around 70% less cost in comparison to all the other leading firms in the market, that too without compromising on the quality aspect.
Conveniences-That says a Lot:- The services of the firm are performed and delivered by using the cutting edge technology which makes the AKT Associates always available & deliver services right in your email. So it doesn’t matter where you are because we are always at your finger tips.

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