Month: December 2015

What are the tax rates and due dates for Service Tax Payment?

1. Service Tax Payment For the quarter/month ending March, the due date for service tax payment shall be March 31. Where tax is paid in modes other than electronically, the due date for payment of service tax shall be 5th of the following quarter/month respectively. Interest on delayed payment W.e.f October 1, 2014, rate of

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Why and when is Service Tax Registration required?

What is service tax? It is a tax payable on the services rendered by the service provider. It is a Union levy, with a selective approach, whereby it is applicable to selected categories of services and not all. The services are classified as negative list of services, declared services and exemptions accordingly. Who should pay

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Goods and Services Tax (GST) – What and Why?

The Goods and Services Tax (GST) is a value added tax that will replace all indirect taxes levied on goods and services by the Government, both Central and States, once it is implemented. It is all set to consolidate all State economies. This will be one of the biggest taxation reforms that will take place

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