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  • Service Tax Payment Due Date

    Service tax is required to be paid to the government by all individuals and businesses that provide any kind of service that may be deemed taxable. If any of these individuals or businesses are found to provide these services beyond a value of Rs 9 lakhs on an annual basis, service tax registration is absolutely compulsory. At present, the rate of service tax charged stands at 14%. The payment of this tax has to be made over regular period, and is to be collected and remitted to the Central Government prior to the expiration of the payment deadline.

    Deadlines For Service Tax Payment:

    The deadline for the payment of service tax differs from entity to entity. These deadlines are prescribed in accordance with Rule 6 of the Service Tax Rules 1994 and are to be made either on a monthly basis or a quarterly basis, depending on the type of entity making the payment.

    Individuals:

    All individuals who provide services that are deemed to be taxable, with a value found to be more than Rs 9 lakhs over the course of a financial year, are required to make payment of service tax on a quarterly basis. The due dates for service tax payment made by these individuals differs depending on the mode of payment chosen.

    • For individuals who decide to make the payment of service tax electronically via internet banking portals, the due date for the payment of such tax is July 6th, October 6th, January 6th, and March 31st of the financial year.
    • For individuals who decide to make the payment of service tax via any other mode, the due date for the payment of such tax is July 5th, October 5th, January 5th, and March 31st of the financial year.

    Proprietorship:

    Any proprietorship that provides services that are deemed to be taxable, with a value found to be more than Rs 9 lakhs over the course of a financial year, are required to make payment of service tax on a quarterly basis. The due dates for service tax payment made by proprietorships differs depending on the mode of payment chosen.

    • For proprietorships that choose to make the payment of service tax electronically via internet banking portals, the due date for the payment of such tax is July 6th, October 6th, January 6th, and March 31st of the financial year.
    • For proprietorships that choose to make the payment of service tax via any other mode, the due date for the payment of such tax is July 5th, October 5th, January 5th, and March 31st of the financial year.

    Partnership Firm:

    Any partnership firm that provides services that are deemed to be taxable, with a value found to be more than Rs 9 lakhs over the course of a financial year, are required to make payment of service tax on a quarterly basis. The due dates for service tax payment made by partnership firms differs depending on the mode of payment chosen.

    • For partnership firms that choose to make the payment of service tax electronically via internet banking portals, the due date for the payment of such tax is July 6th, October 6th, January 6th, and March 31st of the financial year.
    • For partnership firms that choose to make the payment of service tax via any other mode, the due date for the payment of such tax is July 5th, October 5th, January 5th, and March 31st of the financial year.

    Private Limited Company:

    Any private limited company that provides services that are deemed to be taxable, with a value found to be more than Rs 9 lakhs over the course of a financial year, are required to make payment of service tax on a monthly basis. The due dates for service tax payment made by private limited companies differs depending on the mode of payment chosen.

    • For private limited companies that choose to make the payment of service tax electronically via internet banking portals, the due date for the payment of such tax is the 6th of each month, and March 31st
    • For private limited companies that choose to make the payment of service tax via any other mode, the due date for the payment of such tax is the 5th of each month, and March 31st

    Limited Liability Partnership (LLP):

    Any Limited Liability Partnership that provides services that are deemed to be taxable, with a value found to be more than Rs 9 lakhs over the course of a financial year, are required to make payment of service tax on a monthly basis. The due dates for service tax payment made by Limited Liability Partnerships differs depending on the mode of payment chosen.

    • For Limited Liability Partnerships that choose to make the payment of service tax electronically via internet banking portals, the due date for the payment of such tax is the 6th of each month, and March 31st
    • For Limited Liability Partnerships that choose to make the payment of service tax via any other mode, the due date for the payment of such tax is the 5th of each month, and March 31st

    One Person Company (OPC):

    Any One Person Company that provides services that are deemed to be taxable, with a value found to be more than Rs 9 lakhs over the course of a financial year, are required to make payment of service tax on a monthly basis. The due dates for service tax payment made by One Person Companies differs depending on the mode of payment chosen.

    • For One Person Companies that choose to make the payment of service tax electronically via internet banking portals, the due date for the payment of such tax is the 6th of each month, and March 31st
    • For One Person Companies that choose to make the payment of service tax via any other mode, the due date for the payment of such tax is the 5th of each month, and March 31st

    Frequently Asked Questions:

    What are the penalties that will be levied if the payment of service tax is not made before the expiry of the relevant due date?

    Failure to pay service tax to the Central Government before the expiration of the relevant due date will attract a penalty in the form of simple interest on the amount to be paid.

    • Payment of service tax made up to 6 months after the relevant due date will attract a simple interest penalty of 18% of the taxable amount
    • Payment of service tax made between 6 to 12 months after the relevant due date will attract a simple interest penalty of 24% of the taxable amount
    • Payment of service tax made more than 12 months after the relevant due date will attract a simple interest penalty of 30% of the taxable amount
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