Annual return of Service Tax

Amended provisions as per the Finance Act  2016 in respect of Annual return of Service Tax (Applicable w. e. f. 01.04.2016)

Annual return of Service Tax Key features :-

(i) Annual return of Service Tax shall be in addition to the half yearly returns filed by the assessee. Thus the Assessee will half to file three returns in a year – 2 half yearly returns and one yearly return

(ii) The due date for filing Annual return of Service Tax will be 30th November of succeeding financial year;

(iii) Annual return of Service Tax can be revised within one month from the date of filing of return;

(iv) Late filing fees for delay in filing Annual return of Service Tax  is Rs. 100/- per day for the period of delay, subject to maximum amount of Rs. 20,000/-;

(v) The format for filing Annual return of Service Tax shall be prescribed separately. Further, assessee or a class of assessee exempted from filing the Annual return of Service Tax  shall also be notified separately.

(vi) Rule 7, 7B and 7C of Service Tax Rules 1994 are being amended to provide for filing of Annual return of Service Tax by assessee w.e.f 01.4.2016

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