tax registration & filings

Service Tax Return Filings

What is Service Tax Returns Filing?

If you have a Service Tax Registration, you need to file returns twice a year, regardless of whether your turnover exceeds Rs. 10 lakh. In fact, even if you don’t have any revenues, you still need to file returns as nil by October 25 (for April to September) and by April 25 (for October to March). Before this filing, however, all your service tax dues need to be cleared. Failure to pay service tax or file service tax returns by the due date would result in penalties. The fine is Rs. 500 if the delay is up to 15 days, Rs. 1000 if the delay is up to 30 days and an additional Rs. 100 per day thereon, subject to a maximum of Rs. 20,000.

Service Tax Returns Process


Returns Preparation

Once you send in a request, our representatives will inform you of the documents and details you need to submit, such as the collection of tax invoices raised. In case we find that service tax payments had not been made by the due date, we will inform you of the additional interest to be paid.

Returns Filing

We will give you the opportunity to review the filing. One you approve it, we will file the returns with the government. Upon successful completion of the process, we will mail the acknowledgment form to your registered email address.

 

VAT Returns Filings

You need to file returns either monthly or quarterly, depending on your location and turnover.

Vat Return Filing & VAT Due Date


All business entities engaged in the sale of goods (traders and manufacturers) need to have a Value Added Tax (VAT) Registration, often called TIN Registration, once their annual turnover crosses around Rs. 5 lakh (Rs. 10 lakh in some states). The tax needs to be collected from consumers and deposited in a designated bank account to the state government. As VAT is decided by the state, the rates, due dates and even websites for filing returns differ by state. If you have operations in more than one location, you would, therefore, need to file returns separately. Return filing needs to be done once every month or once every quarter, depending on your location and turnover. Additionally, all states require a consolidated return to be filed at the end of the year. Vakilsearch can ensure that you never miss a VAT due date by setting reminders for the information you would need to provide and always filing your returns before the due date.

VAT Returns Process


Returns Preparation

We will collect all the necessary information and documents (TIN Number, balance sheet, tax liability, state of operation) to prepare your returns. Once done the first time, our affiliate will then ensure that you are always reminded of the filing date so you don’t end up paying penalties.

Returns Filing

We will give you the opportunity to review the filing. One you approve it, we will file the returns with the state government. Upon successful completion of the process, we will mail the acknowledgment form to your registered email address.

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