May 292015
 
Due dates for the Month of June 2015
05-06-2015
Service Tax
– Service Tax Payment by Companies for May
Central Excise#
– Payment of Excise Duty for all Assessees (other than SSI Units) for May
07-06-2015
Income Tax
– TDS Payment for May
10-06-2015
Central Excise
– Monthly Return in Form ER-1 (Ann-12) for other than units availing SSI exemption for May
– Monthly Return in Form ER-2 (Ann-13) by 100% EOUs for May
– Montly information relating to principal units in Form ER-6 (Ann – 13AC) for specified assessees for July
– Exports – Procurement of specified goods from EOU for use in manufacture of Export goods in Form Ann-17B for DTA units, procuring specified goods from EOU for manufacture of export goods
– Proof of Exports in form Ann.-19, once in a month for all exporters, exporting goods under Bond
– Export detains in Form Ann.-20, for Manufacturing following simplified export procedure.
– Removal of excisable goods for specified use at concessional rate of duty in terms of Rules described in Col. 4.
15-06-2015
Providend Fund
– PF Payment for May
Income Tax
– Advance Income Tax – Companies.
21-06-2015
ESIC
– ESIC Payment for May
MVAT *
– MVAT Monthly Return for May (Eligibility as per Mahavat Website)
30-06-2015
Profession Tax
– Profession Tax (Enrollment) – Payment for Financial Year 2015/16.
– Monthly Return (covering salary paid for the preceding month) (Tax Rs. 50,000 or more)
Central Excise
– Particulars relating to clearances, electricity load etc. in Form Ann. – 4, exceeding the limit of Rs. 90 lakhs of exempted clearances for Small scale units availing exemption and whose turnover exceeds or has exceeded Rs. 90 lakhs in a financial year, as the case may be.
* If payment of MVAT is made as per time prescribed, additional 10 days are given for uploading e-return
# if Excise Duty / Service Tax paid electronically through internet banking, the date is to be reckoned as 6th instead of 5th.
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May 292015
 

Frequently Asked Questions on Service Tax

Q. What is the effective rate of service tax that I need to charge on Invoice being raise 26-05-2015 for the completed service?

Comments: 12.36%

Q What is the effective rate of service tax that I need to charge on the advance received today for the service to be provided after 01.06.2015?

Comments: In case you also raise the invoice prior to 30.06.2015 (law provides time upto 30days from the date of receipt of the advance) then you can charge 12.36% in case the invoice is raised after 01.06.2015 then the same needs to be charged at 14%.

Q. Work is assigned in the month of May 2015 and 90% of the work is completed as on 31st May 2015, no advance is received, Invoice can be raised only on full completion of service in the month of June 2015. What is the service tax needs to be charged?

Comments: Since the Invoice would be raised in the month of June 2015 and payment would be received in the month of June 2015 14% would be applicable.

Q. I am a builder paying service tax on earlier of receipt of money or completion of milestone as per the contract, how should I apply the rate charge provision?

Comments: For the advance received prior to milestone and if the invoice is raised prior to 31st May 2015 the applicable rate of tax to that extent shall be 12.36% and all further milestone and payments shall be liable at 14%. For the milestone falling prior to 31st May 2015 and if the invoice has raised prior to such date 12.36% would apply to the extent of such amount as mentioned in such milestone, for the balance milestones amounts 14% would apply.

Q. I am a private limited company need to pay service tax on goods transport agency service under reverse charge mechanism? How to apply this rate change provision?

Comment: Point of taxation in case of service tax payment under reverse charge by the recipient of the service is governed by Rule 7 of the POTR, 2011 which has a overriding effect of Rule 4 and hence service tax prevalent as on the date of payment to vendor needs to be adopted however if the payment has not been made in 3 months then the rate prevent as on the date after the expiry of 3 months from the date of Invoice needs to be adopted. For all the payment made before 31.05.2015 service tax would be applicable at 12.36% and for the payments made there after, 14% rate would be applicable for all the invoice received date prior to 28th February 2015 on which the payment is still pending would be liable at the rate of 12.36% and for the Invoice raise from 1st March 2015 onwards for which the payment is pending as on 31st May 2015 will be liable at the rate of 14%.

Q. Do we need to charge Education cess and Secondary and Higher Education Cess on Service Tax w.e.f 01.06.2015?

Comments: No, the levy of the same gets abolished from June 1, 2015 and the same need not be charged from June 1, 2015.

Q. Do we need to charge Swach Bharat Cess on Service Tax?

Comments: No, Swach Bharat cess shall be applicable from the date to be notified. It has not been notified yet. Therefore, it shall not be applicable from June 1, 2015

Conclusion

The service providers may need to ensure that bills in respect of the completed services and advance receipts is raised and service tax is paid in next month/ month next to quarter. This would ensure that there are no demands for differential service tax, citing increase in service tax rate to take effect from 1.6.2015. The customer may also not have any objection especially those who are unable to avail the credit.