Taxation is a very complex issue. However, at C.D.Patel & Co., we employ the best minds who can help you navigate this complex web. Service Tax in India which falls in the category of Indirect Tax has been applicable since 1994. This is a taxation which has to be paid by any person/company providing a service. As a result, more often not, hotels and mobile service providers add this component to the final bill generated.
THowever, at C.D.Patel & Co., we have noticed that many establishments struggle in understanding this concept. To start with, we advise all our clients that they should apply for the service tax registration. This is an important step, especially at the time of filing returns at the end of the financial year.
According to government regulations, if an establishment registers an annual income of ten lakhs, then they become liable to pay the tax amount to the government. However, if the income is less than this amount, then they can claim the benefit of the same. It is with this calculation, that our expertise comes into play.
C.D.Patel & Co. can help any establishment irrespective of size or industry or date of inception with their service tax queries. So go ahead and contact us today for the same.