Service Tax was introduced in the year 1994 through insertion of Chapter V of Finance Act, 1994. Despite of the fact that there is no separate Act for levy and collection of the Service Tax, it has evolved as a major source of revenue for the central government. The finance Act, 2012 has provided for radical changes in the service tax regime (w.e.f. 1st of July, 2012) by providing that service tax is payable on all services rendered in taxable territory except for those mentioned under the Negative List (specified under Section 66D).
Being a relatively new tax and indefinite coverage, a very close monitoring, updation and follow-up is required for effective compliance of the service tax. The biggest hurdle in compliance of this law are the frequent procedural changes, policy framework and the intention of the government to cover as many services as possible including services like sale of food in air conditioned restaurant, renting of commercial property, sale of flats by builders before completion, reverse charge of service tax from recipient of services etc.
The key to effective management of service tax lies in the accuracy in understanding of the tax liability, knowledge of the latest amendments and timely compliance together with proper representation in the department.
 Understanding |
Compliance |
Timeliness |
Representation |
At RITUL PATWA & CO, Chartered Accountants, Jaipur, India - We provide a range of professional services given hereunder and advice our client in understanding the service tax liability under different categories as per the latest applicable provisions, advising on tax implications on day–to-day operations, as well as implications on specific business activities /transactions, identification and implementation of tax planning opportunities under the Service Tax, settlement of old undisclosed service tax liability under ‘The Service Tax Voluntary Compliance Encouragement Scheme, 2013’ and advising the optimum opinion.
Major Service Tax assistance services available for our clients are as under:-
 Ascertain applicability of tax laws under the negative list regime based on the operational activities of the business.
Assistance in service tax registration.
Structuring of business transaction to maximize tax efficiency.
Filling of periodical returns and deposit of taxes.
Providing regular updates to our clients.
Representation before Tax authorities in connection with tax assessments, refunds and other matters.
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