Sheet1 SERVICE TAX RATES Rate of Service Tax

Period Service Tax EC 01-07-1994 to 5.00% 13-05-2003 14-05-2003 to 8.00% 09-09-2004 10-09-2004 to 10.00% 17-04-2006 18-04-2006 to 12.00% 10-05-2007 11-05-2007 to 12.00% 23-02-2009 24-02-2009 10.00% onwards SHEC 2.00% 2.00% 2.00% 2.00% 1.00% 1.00% Net Rate 5.00% 8.00% 10.20% 12.24% 12.36% 10.30%

Works Contract Rate

Period Service Tax EC 01-06-2007 to 2.00% 28-02-2008 01-03-2009 4.00% onwards SHEC 2.00% 2.00% 1.00% 1.00% Net Rate 2.06% 4.12%

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Sheet2 Basic Exemption Limit Chart

Period Basic Exemption Limit Before 01-04- No Limits 2005 01-04-2005 Rs. 4 Lakhs to 31-032007 01-04-2007 Rs. 8 Lakhs to 31-032008 01-04-2008 Rs. 10 Lakhs onwards

Payment of Service Tax Using Challan GAR 7

Byindividuals,proprietaryfirmsandpartnershipfirms: Payable on amount received during the Payable By quarter 1st April to 30th June 5th July 1st July to 30th September 5th October 1st October to 31st December 5th January 1st January to 31st March 31st March Byothers: On amount received during 5th of following month each month except March On amount received during 31st March March

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Sheet3 Filling of Returns

The Service Tax Assesses are required to file a half yearly return in Form ST-3 in triplicate, to the Superintendent of Central Excise, dealing with Service Taxwork. The return is to be filed within 25 days from the last day of the half year it relates to and should be accompanied by copies of all TR-6 Challans issued in the relevant period. Thus, the returns for half year ending 30th September and 31st March are required to be filed on or before 25th October and 25th April. If no Services have been provided during a half year and no Service taxispayable,theassesseemayfileaNilreturnwithintheprescribed time limit. Half Yearly Return In Form ST -3 April to September 25th of October October to March 25th of April

Interest and Penalties/Late Fees

Nature of default Interest on amount collected in excess Interest on delayed payment Section 73B Quantum Simple interest @ 13% p.a. w.e.f. 19th April, 2006.

75 Simple interest @ 13% p.a. w.e.f. 10th September, 2004 76 Higher of Rs. 200/- or more per day or 2% of service tax p.m. Rs. 500/- for delay up to 15 days Rs. 1,000/- for delay beyond 15 days upto 30 days Rs. 1,000/- plus Rs. 100/per day for delay beyond 30 days CEO empowered to reduce or waive penalty (late fees) for delay in filing return where gross amount of service tax payable is NIL. 77 Up to Rs. 5,000/- or Rs. 200/- for every day during which such failure continues,whichever is higher.

Penalty for failure to pay service tax Late fees for 70(1) delay in filing & return Rule 7C

Failure to takeservice taxregistratio n

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