Service tax registration is basically an indirect tax in which the service provider pays out the tax and recovers the same from the recipient.
Service Tax Registration is a mandatory requirement for every person or businesses operational in India providing a taxable service of a value exceeding Rs.9 lakhs annually. Any failure to obtain service tax registration would attract penalty as per section 77 of the Finance Act, 1994.Currently, Service Tax is levied at 14% on the value of the taxable service. My Online CFO can help you with Service Tax registration, filing service tax returns and various processes required to be completed under the Finance Act, 1994.
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