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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