Frequently asked question on Service Tax Payments

Today we will discuss the frequently asked question on Service Tax Payments, who has to pay the service tax, Due date of service tax payments, Interest and Penalty for not filing the service tax payments.

 Applicability of Service Tax Payments

(Every Assesse has to registered under service tax when he crosses the limit of 9 lacs. Every assesse has to pay the service tax if he crosses the limit of 10 lakhs.

Due Date of Service Tax Payments

Due Date of Service Tax Payments for Company

Company incorporated under companies act,1956 wheather private or public has to pay tax in case of physically submitting to bank on or before 5th of the next month. In case of online payment on or before 6th of the next month.

Example: Service tax for the month of April has to be paid on or before the 5th may in case of physical submission to bank or 6th may in case of online payment.

Exception: – Service Tax Collected for the month ending March shall be payable by 31st March of the said Financial year.

Due Date of Service Tax Payments for Any Assessee other than company (Individual, HUF, Partnership firm registered or unregistered, Limited Liability Partnership, Trust whether public or private)

Any Assessee other than company (Individual, HUF, Partnership firm registered or unregistered, Limited Liability Partnership, Trust whether public or private) has to pay tax in case of physically submitting to bank on or before 5th of the next Quarter. In case of on-line payment on or before 6th of the next Quarter.

Example: Service tax for the Quarter of April-June has to be paid on or before the 5th july in case of physical submission to bank or 6th july in case of online payment.

Exception: – Service Tax Collected for the quarter ending March shall be payable by 31st March of the said financial year.

Procedure of  Service Tax Payments online and Offline

      (A) Physical submission to bank

Go to CBEC then download and filled the Service tax payment Challan G.A.R-7 and submit  the challan at the respective bank that are accepting service tax payments.

       (B) Online Payment of Service Tax/ Electronic Payments of service tax.

 Go to CBEC  & fill the respective information.In Payment details select different codes   for   Service tax , education cess, senior and higher education cess , interest and penalty.If assesee is registered/providing more than one
services, while online payment of service tax make different challan for different service.

       (C) Is Service tax password necessary for service tax Payments  ?

             For payment of service tax assessee need not to remember password.

IV  Interest /Penalty on non payment of service tax

Interest on non payment of service tax Before 1^st October 2014

As per amendment made in Budget 2014, Interest on non payment of service tax after 1^st October 2014

Service Tax calender for financial year 2015-16?

 In case of Company whether private or public:

In Case of Any assessee other than company (Individual, HUF, Partnership firm registered or unregistered, Limited Liability Partnership, Trust wheather public or private):