Service Tax
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The government has imposed Service Tax on particular service providers in India in 1994 by chapter V of the Finance Act.1994.
The authority to levy tax :-
- The central Board Of Excise of Customs and Excise(CBEC), Department of Revenue Ministry of Finance.
- Directorate of Service Tax, Mumbai
Rules and Regulations relevant to Service Tax
(i) Service Tax Rules 1994.
(ii) Cenvat Credit Rules 2004.
(iii) Service tax (Advance Ruling) Rules 2003.
(iv) Service tax (removal of difficulty) order.
(v) Export of services rules 2005.
(vi) Specific provisions of the Central Excise Act 1944 as adopted for the purposes of Service Tax..
(vii) Service Tax (Registration of Special Category of Persons) Rules, 2005.
(viii) Notifications and circulars issued from time to time
Overview
Relevant Forms
1. Form ST-1-Application for registration under Section 69 of the Finance Act 1994(32 of 1994).
2. Form ST-2-Certificate of registration under Section 69 of the Finance Act 1994(32 of 1994).
3. Form ST-3-Return of service tax credited to the Government of India.
Rate of Service Tax
Rate of service Tax is 10% and Education Cess on the amount of Service Tax is 2%. Hence the effective Service Tax rate is now 10.2% including Education Cess. Exemption and reduction may be allowed in specified category.