Taxation Services | Things To Keep In Mind

Service Tax in India

Service Tax was, before, a type of duty that was gathered by the Indian Government for specific labour and products. The individual paying the assistance assessment can be either a recipient or a supplier. It has as of late been supplanted by the GST.

What is Service Tax?

Service Tax is an expense charged by the public authority of India on unambiguous assistance exchanges done by the specialist organization. Nonetheless, the last customers are the ones who pay the duty as it is given to them by the specialist co-ops. Service Tax was presented under the Finance Act, 1994, and is a sort of Indirect expense.

Service Tax Payment

The Central Board of Excise and Customs, or CBEC as it is known in its condensed structure, sent off an electronic installment entryway called Electronic Accounting System in Excise and Service Tax (EASIEST) with an end goal to assist assessees with paying their service charge online without hardly lifting a finger.
Here is a bit by bit technique to pay your service charge easily:

  • ● Visit the website and select 'E-Payment (Excise and Service Tax).
  • ● Enter the 15-digit Assessee Code given by the jurisdictional Commissionerate to pay your service charge on the web.
  • ● A web-based look voluntarily be conveyed to approve the code you have entered, and assuming that the code is legitimate, the screen will show subtleties, for example, the name, address, Commissionerate code, and so forth.
  • ● When you enter the Assessee code, the system will consequently choose the sort of installment you wish to make, viz. Administration Tax or Excise Duty.
  • ● You will then, at that point, need to choose 'Select Accounting Codes for Service Tax'.
  • ● Following the approval of the information in the NSDL focal system, the screen will show a drop-down menu with the names of various banks that give the netbanking office to pay your administration charge on the web. Here, you should pick the bank through which you wish to make your administration charge installment on the web.
  • ● Whenever you have presented the important information, an affirmation screen will show up and in the event that you affirm the subtleties you have entered, you will be diverted to the netbanking site of the bank you have chosen.
  • ● You will then, at that point, need to sign in to your netbanking account and enter the installment subtleties and make the installment.
  • ● Once you have made the installment, a challan counterfoil will show up on the screen and it will contain the installment subtleties, the Challan Identification Number, and the name of the bank through which the installment was made.
  • ● You can download the counterfoil from the bank site as it contains all the data about the installment and functions as an affirmation/verification.
  • There is a lot more for you to know, understand and practice when it comes to Service Tax. This taxation service is the most important aspect to follow, as it involves a lot to do with your expenses along with the government policies.