07 February 2015
Dear all i am contractor in fy 2013-14 my turnover was less than 1000000/- so i have not collected service tax from my customer in FY 2014-15 and now this year my turnover is exceed 1000000/- and my service amount is 1023145/- (excluding service tax) in current FY neither i have collected service tax nor i have deposited any amount nor i have filled first half yearly return this FY. because in FY 2013-14 my turnover was below 1000000/-. but now in this current FY in fourth Quarter my turnover is exceed 1000000/- what should i do now. should i charged service tax now. and will i have to fill service tax service tax secound half yearly return or not. plz. note that i have not charged service tax before 1023145 on my service income..
07 February 2015
Get registered under Service Tax through ACES and then filing hard copy with Address proof, Pan No, and declaration in prescribed format. You have to deposit service tax for amount of services exceeding 10 Lacs irrespective of fact whether you have collected ST or not. The rate of service tax is 12% plus ED & SHE but if you happens to be providing Works Contract service then it may be 40% or 70% of General Rate. Further if you individual or HUF or Firm and providing Works Contract Service to Body Corporate then it will be further reduced to 50% as balance 50% be will paid by such Body corporate. You have file ST3 return for second half year
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