Category
|
Frequency
|
Due Dates
|
In case of Individuals, proprietary Firms & Partnership Firms
|
Quarterly as mentioned below -
|
(6th for internet payment)
|
( i ) For Q.E. 30th June
|
- by 5th July
| |
(ii ) For Q.E. 30th Sept.
|
- by 5th Oct
| |
( iii ) For Q.E. 31St Dec.
|
- by 5th Jan.
| |
( iv ) For Q.E. 31st March
|
- by 31st March
| |
Others (e.g. Companies,Societies, Trusts etc.)
|
Monthly
|
By 5th of the month immediately following the month .However, in case of March, the payment should be made by 31st March.
|
6.Interest on late payment of service Tax
The new rate of interest of 18% will be applicable from 1st April, 2011.However interest rate is reduced by 3 % for turnover up to 60 Lacs
“Provided that in the case of a service provider, whose value of taxable services provided in a financial year does not exceed sixty lakh rupees during any of the financial years covered by the notice issued under sub-section (3) of section 73A or during the last preceding financial year, as the case may be, such rate of interest shall be reduced by three percent per annum.”
So the reduced interest rate of 15% (18%-3%) will be applicable in case where the value of taxable services provided in a financial year is not more that Rs. 60 lakh. But this provision will have a limited application as only to the small service providers but no relief to the large tax payers has been provided.
7.Abatement Rates on various services
Sr No.
|
Description of taxable service
|
% Abatement
|
% taxable
|
Conditions
|
1
|
2
|
3
|
4
|
5
|
1
|
Services in relation to financial leasing including hire purchase
|
90
|
10
|
Nil.
|
2
|
Transport of goods by rail
|
70
|
30
|
Nil.
|
3
|
Transport of passengers, with or without accompanied belongings by rail
|
70
|
30
|
Nil.
|
4
|
Bundled service by way of supply of food or any other article of human consumption or any drink, in a premises ( including hotel, convention center, club, pandal,shamiana or any other place, specially arranged for organizing a function) together with renting of such premises
|
30
|
70
|
(i) CENVAT credit on any goods classifiable under Chapters 1 to 22 of the Central Excise Tariff Act, 1985 (5 of 1986) used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
|
5
|
Transport of passengers by air, with or without accompanied belongings
|
60
|
40
|
CENVAT credit on inputs and capital goods, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
|
6
|
Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes.
|
40
|
60
|
Same as above.
|
7
|
Services of goods transport agency in relation to transportation of goods.
|
75
|
25
|
CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
|
8
|
Services provided in relation to chit
|
30
|
70
|
Same as above.
|
9
|
Renting of any motor vehicle designed to carry passengers
|
60
|
40
|
Same as above.
|
10
|
Transport of goods in a vessel
|
50
|
50
|
Same as above.
|
11
|
Services by a tour operator in relation to,- (i) a package tour
|
75
|
25
|
(i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
|
(ii) The bill issued for this purpose indicates that it is inclusive of charges for such a tour.
| ||||
(ii) a tour, if the tour operator is providing services solely of arranging or booking accommodation for any person in relation to a tour
|
90
|
10
|
(i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
| |
(ii) The invoice, bill or challan issued indicates that it is towards the charges for such accommodation.
| ||||
(iii) This exemption shall not apply in such cases where the invoice, bill or challanissued by the tour operator, in relation to a tour, only includes the service charges for arranging or booking accommodation for any person and does not include the cost of such accommodation.
| ||||
(iii) any services other than specified at (i) and (ii) above.
|
60
|
40
|
(i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
| |
(ii)The bill issued indicates that the amount charged in the bill is the gross amount charged for such a tour.
| ||||
12
|
Construction of a complex, building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly except where entire consideration is received after issuance of completion certificate by the competent authority
|
75
|
25
|
(i) CENVAT credit on inputs used for providing the taxable service has not been taken under the provisions of the CENVAT Credit Rules, 2004.
|
(ii)The value of land is included in the amount charged from the service receiver.
| ||||
a. Residential properties having a carpet area above 2000 sq ft and where amount charged is equal to or more than Rs. 1 crore, b. Commercial properties.
|
70
|
30
|
same two conditions above
| |
(Notification No. 02/2013-ST dated 1st March, 2013 applicable wef 01.03.13)
|
Sachin Kumar Mishra
Mob:- +918130319600
