Sunday, October 9, 2011

service tax efiling, efile at the earliest

As we all know, the efiling of service tax return is now made mandatory for all wef. 1.10.2011.

However, e-payment is mandatory only if the tax payment exceeds Rs. 10 lakhs in a financial year.

Unlike Income tax and VAT, the possibility of an extension of due date for filing service tax return is not there.

Moreover, the penalty (late fee) for non filing of service tax returns is also very high these days.

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