Discover This Useful Service for Start-Ups in India
A start-up business in India will have a lot on their plate to deal with. When it comes to taxes, why not simplify the process with 3E Accounting’s Service Tax Registration Services?
What Are Tax Registration Services in India?
Starting a new business abroad is not easy. Even more so if you don’t speak the local language. The business laws and regulations, especially tax-wise, differ with ac county. In some countries, you will find that tax registration is even mandatory.
Service tax is a tax you pay to service providers. The Indian Government collects these taxes for service services they provide. Consumers pay for these taxes to continue enjoying the benefits of their preferred services.
This tax was introduced in India in 1994 under the Finance Act. Section 65 of the act covers all the taxable services. These are applicable in India except in the areas of Kashmir and Jammu.
For service providers, this tax is mandatory if the business turnover is more than 10 lac rupees annually. As of 2012, all services in the country are considered taxable unless they are on the Act’s negative list.
What is the Tax Rate?
The current services tax rate in India as of 2015 is 14%.
How to Register for Services Tax
3E Accounting can handle all your business affairs in India from start to finish. This includes incorporating a company in India. Registering for service taxes are handled online. As your trusted incorporation agent, we will help you go through the following registration steps:
- Lodge an application for your ST-1 Form.
- Upload your gathered documentation.
- Update you once the Government Department has verified your documents.
- Issue you with the ST-2 Form, also known as a Service Tax Registration Certificate.
We will need to gather the following documents from you:
- A copy of your PAN card.
- Proof of address (Copy of your passport, driving license, bank statement, rent or utilities bill etc)
- Government-issued registration documentation (Certificate of incorporation, state sales tax registration)
If all your documents are in order, the total time taken for this process will be between 5 to 7 days.
Ready to Get Your Business Going?
You don’t have to be a start-up to enjoy the perks of working with us. Running a business doesn’t have to be hard when you have the right team of people working for you. For more information about our Services Tax Registration Services in India, contact the 3E Accounting team.