TaxadvisorIndia: We are Service Tax Registration Consultants in Bangalore.
TaxAdvisorIndia.com is a leading tax and business advisory firm that is specialized in online tax registration services in India such as service tax registration or file service tax returns.
Service tax is an indirect tax levied on the services provided by a service provider in India. Service tax is paid by the end-consumer of the service and the service provider is responsible for the collection of remittance from the recipient of the taxable service.
At present, Service Tax is levied at 14.5% on the value of the taxable service and may subject to increase due to government policies. Service tax registration is compulsory for every person or business in India that has provided a taxable service of value exceeding Rs.10 lakhs, in the previous financial year.
Service Tax Registration is required for identification of the assessee, to deposit service tax, to file service tax returns and undertake various processes required under the Finance Act, 1994. Failure to obtain service tax registration would attract penalty in terms of section 77 of the Finance Act, 1994.