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Register
with "Service
Tax"
What is Service Tax?
Service tax
is an indirect tax levied under the Finance Act, 1994,
as amended from time to time, on specified services.
At present, there are approximately 96 categories
(including 15 new services introduced by Budget 2006)
of services taxable under the service tax net.
What
are the consequences for failure to obtain
registration?
There
is no specific penalty for failure to obtain
registration. However, as per residuary penalty
clause (ie penalty for contravention where
no specific penalty is provided), penalty
which may extend to Rs 1000/- may be leviable.
Register
with ServiceTax
If
you happen to be a business owner, providing
a service; chances are that you would be assessed
under service tax. Read on to find if you need
to take a registration, and if so how to do
it yourself. |
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