abhishreshthaa

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Salient Features


Service Tax is essentially an indirect tax.

Individuals are required to pay the Service Tax only once in a quarter. Companies can pay Service Tax for one month by the 25th of the following month.


The Finance Act of 2001 launched self-assessment for Service Tax returns so that assessees can are spared the inconvenience of regular scrutiny.


Although legal penalties exist for failing to pay Service Tax, these penalties cannot be imposed if the assessee can prove that there was due cause for failure.
 
If i would have businessman then the word tax would sound like Axe. But, irrespective of jokes. Tax plays very crucial role in building nation but, most of them have doubt regarding whether their money is worth or not because of corruption. They forget that hiding money too is the part of corruption.
 
Salient Features


Service Tax is essentially an indirect tax.

Individuals are required to pay the Service Tax only once in a quarter. Companies can pay Service Tax for one month by the 25th of the following month.


The Finance Act of 2001 launched self-assessment for Service Tax returns so that assessees can are spared the inconvenience of regular scrutiny.


Although legal penalties exist for failing to pay Service Tax, these penalties cannot be imposed if the assessee can prove that there was due cause for failure.

Hey abhi, thanks for sharing such a nice information about the service tax. Well, i am also including some information which would help you to understand the concept of service tax in more detail.
 

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