Service Tax was introduced for the first time in the year 1994. Service Tax is charged by the service provider on the person receiving the service and the responsibility of depositing such tax to the credit of the government lies on the service provider, in most of the cases.

The current rate of service tax is 14% applicable w.e.f 1st June, 2015, which is payable on the gross amount of the taxable service. Service Tax registration is mandatory for every person or business in India that has provided a taxable service of value exceeding Rs.9 lakhs, in the previous financial year.

Service Tax Registration is required for identification of the assesse, deposit service tax, file service tax returns and undertake various processes required under the Finance Act, 1994. Service tax return is required to be filed by every assessee at the end of every half year in relation to services rendered by them. Failure to obtain service tax registration and file returns would attract penalty in accordance with the regulations of the Finance Act, 1994.

Kgac provides expert services in the field of service tax. We assist in determining the taxability of the services rendered by you, calculation of the taxable amount of service, registration with service tax authorities, payment of service tax within due dates as well as filing service tax returns. Moreover, any issue with the service tax department will also be handled diligently by our professionals keeping you compliant with the service tax laws at every end.