Know Due Dates for Online Service Tax Payment - General - Others - TIK Share
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Know Due Dates for Online Service Tax Payment


Shivangi Singh

2015-09-09

All businesses providing taxable services are required to collect Service Tax on the amount of service provided and deposit it with the Central Government within specified time limit. Service Tax Registration is mandatory for all the taxable service providers whose taxable services are in excess of Rs. 9 lakhs in a year. Businesses which provide services worth Rs. 10 lakh or above have to collect Service Tax on their invoice and deposit it with the Central Government. Current rate of Service Tax is 14%. The Service Tax collected should be deposited with the Central Government on or before specific date. These dates are popularly known as due date for Service Tax payment.

Due date for Service Tax payment

Service Tax is payable on monthly or quarterly basis depending upon the type of business. The periodicity of Service Tax payment is explained below:

  1. 1.      Monthly:
  • Proprietorship
  • Partnership

 

  1. Quarterly:
  • Private Limited
  • Limited Liability Partnership

Proprietorship / Individual Service Tax Payment Due Date

Periodicity of Service Tax Payment for Individuals/Proprietorship business is quarterly. Due dates for making Service Tax payment is 6th July, 6th October, 6th January and 31st December for every quarter, if the Service Tax Payment is made by electronic mode. If Service Tax payment is done by any other mode of payment, the due date for Service Tax payment is 5th July, 5th October, 5th January and 31st December.

Partnership Service Tax Payment Due Date

Periodicity of Service Tax Payments for Partnership firms is quarterly. Due dates for making Service Tax payment is 6th July, 6th October, 6th January and 31st December for every quarter, if the Service Tax Payment is made by electronic mode. If Service Tax payment is done by any other mode of payment, the due date for Service Tax payment is 5th July, 5th October, 5th January and 31st December.

Private Limited Company Service Tax Payment Due Date

Periodicity of Service Tax payments for Private Limited Company is monthly. Due dates for making Service Tax payments is 6th of following month for payments of Service Tax for the months of April to February, if payment is made by electronic mode. If Service Tax payment is made by any other mode the due date is 5th of following month. Service Tax for the month of March has to be paid on 31st March in both the cases.

Limited Liability Partnership (LLP) Service Tax Payment Due Date

Periodicity of Service Tax payments for Limited Liability Partnership (LLP) is monthly. Due dates for making Service Tax payments is 6th of following month for payments of Service Tax for the months of April to February, if payment is made by electronic mode. If Service Tax payment is made by any other mode the due date is 5th of following month. Service Tax for the month of March has to be paid on 31st March in both the cases.

Service Tax Return Filing Due Date

Service Tax return filing due date for every business having Service Tax Registration is 25th October and 25th April. Service Tax Return for the period April to September is to be filed on or before 25th of October and Service Tax Return for the period October to March is to be filed on or before 25th of April.

How to make Service Tax payment

Service Tax can be paid by electronic mode or by payment of cheque through designated banks. If during the year, Service Tax payable is Rs. 1 lakh or more before CENVAT credit, Service Tax is to be paid through electronic mode only. In other cases Service Tax can be paid by issuing cheque to designated banks. Date of cheque presentation is considered as date of Service Tax payment. Click on the below mentioned link for online service tax payment.

https://cbec-easiest.gov.in/EST/InputPageForEPaymentServlet

Interest on late payment of Service Tax

Simple Interest at below mentioned rates is payable on late payment of Service Tax

  • Upto six months delay in Service Tax payment – Interest @ 18% p.a.
  • More than six months but upto one year delay – Interest @ 24% p.a.
  • More than one year delay – Interest @ 30% p.a.

If the value of taxable services provided during the year is more than Rs. 60 lakhs, the interest on late payment is reduced by 3% p.a.

Penalty for late filing of Service Tax Return

  • If delay is upto 15 days – Rs. 500
  • If delay is more than 15 days but upto 30 days – Rs. 1000
  • If delay is more than 30 days – Rs. 1000 plus Rs 100 per day from 31st day upto maximum of Rs. 20000