Due Dates for Service Tax Payment and Returns Filing

Service Providers who have an annual turnover of over 9 lakhs are required to register for Service Tax. Once registered, the payment has to be made on a monthly/quarterly basis whereas the service tax returns need to be filed twice a year. Following are the due dates for service tax payment and returns filing.

Due Dates for Service Tax Payment

The due date for payment of service tax is different for different types of business entities.

  • In the case of Partnership or Proprietorship firm, the payment has to be made on a quarterly basis. Therefore, the due date is the fifth of the following quarter in which the payment is received. In the case of online payment of service tax, a grace of one day is allowed, making the payment date the sixth of the following quarter.
    Exception: March, where the payment has to be made on the 31st.
  • In the case of Private Limited Company, Limited Liability Partnership and One Person Company a monthly payment procedure is followed. Therefore, the due date is the fifth of the following month in which the payment is received. In the case of online payment of service tax, a grace of one day is allowed, making the payment date the sixth of the following month.
    Exception: March, where the payment has to be made on the 31st.

In the case of late payment, your business will be penalised with 18 % interest (in the case of delay for 6 months), 24% (6 months – 1 year) and 30% (above a year).

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Due Dates for Filing Service Tax Returns

Service tax returns are to be filed on a half-yearly basis.

  • April 2016 – September2016: 25th October 2016
  • October 2016 – March 2017: 25th April 2017

In the case of delay for filing service tax returns, you will be penalised with late fees.

  • Delay of 15 days – Rs 500
  • Delay of 30 days – Rs 1000
  • Delay of < 30 days – Rs 100 will be added per day to Rs 1000

Startup Choice can help you with the service tax returns filing for your business.

 

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Keep your business updated with Startup Choice on all Service Tax related matters regarding payment and filing returns to avoid stiff penalties. Visit our website www.startupchoice.com or drop us a mail at hello@startupchoice.com for more queries.

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