Government extends service tax return filing date to April 30 - Things to Know While Filing Tax Returns this Year

Service Tax registration in India

The Centre has extended the last date for filing service tax return by five days to 30 April, in a relief to lakhs of service providers. “The Central Board of Excise and Customs (CBEC) hereby extends the date for submission of form ST-3 for the period from 1 October to 31 March 2017, from 25 April to 30 April 2017,” the apex policy making body of the indirect tax department said in an office order.

Every registered service tax assessee has to file service tax return in form ST-3 on a half-yearly basis before the due date to avoid penalty. For filing returns for the period April-September, the due date is 25 October, while for October-March it is 25 April.

The CBEC said that the due date is being extended as the assessees faced “intermittent difficulties” in accessing the Automation of Central Excise and Service Tax (ACES) website on 25 April. This, CBEC said, is “circumstances of a special nature” for which the last date for filing is being extended. As per norms, the returns have to be filed online on www.aces.gov.in.

While return is filed half-yearly, the service tax collected by the assesses has to be deposited with the government on a monthly or quarterly basis. Tax experts in India voiced concern over whether the Goods and Services Tax Network (GSTN) portal would be able to take the load of all the tax payers which would include not only service providers, but also traders and manufacturers.

The government is asking existing excise, service tax and VAT assessee to shift to the GSTN portal for payment of tax and filing returns. GST, which will unify 10 local taxes, is expected to kick in from 1 July.

Nangia and Co Director-Indirect Taxation Rajat Mohan said return filing under GST regime would necessitate much more data in terms of invoices, debit notes and credit notes that would be matched online. “After witnessing this extension of due date for filing service tax return, my concern is the government system might not be fully geared up for such large pool of tax payers and in terms of data requirement in returns,” Mohan said.

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Things to Know While Filing Tax Returns this Year

Tax consultant in India

Tax has become an important compliance, specially with the amendment in regulation since 2012. Now almost every service is covered leaving a few exempted. This now has repercussions like registration, filing returns, calculation of service tax payable and so on. We provide online service tax registration services include end to end solution like advice on applicability of Service Tax to meeting compliances including Registration and filing of requisite forms with the Department. We also undertake review of specific agreements to identify the applicability of tax.

 March 31, the last date for making your tax-saving investments. If you have not done the needful to claim various deductions already, you have no time to lose. Before doing so, however, it will also help if you understand certain key requirements of the tax return filing process, the due date for which falls on July 31. Knowing the rules and procedures will give you a better grip on your tax planning exercise. Here are eight things you ought to know about the process.

1. Don’t Forget to Claim 80G Deductions
2. Beware of Demonetisation After-effects
3. Online is the Way to go
4. Verify Form 26AS
5. Select the Right ITR Form
6. Opt for e-verification
7. Follow the ITR-V Rules
8. Provide the Correct Details 

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