CA Aayush JainCA Aayush Jain

1. As per Rule 7(1) of the Service Tax Rules, 1994, all the assessees registered under service tax are required to file service tax returns on a half yearly basis. The half yearly return is to be filed by 25th of the month following the particular half year.

2. The Central Board of Excise and Customs (͞the Board͟) have amended Rule 7, 7A and 7B of service tax vide Notification No. 19/2016 whereby the Board has introduced the requirement of filing an annual return.

3. However, the requirement of filing of half yearly return is still there, the annual return is in addition to the normal half yearly returns.

4. As per the amendments made by the Board in Rule 7 all the assessees are required to file an annual return by 30th November of the succeeding financial year.

5. As on today, there are no exemptions for anyone for filing this annual return. However, the Central Government is yet to notify the assessees or class of assesses who will not be required to submit this annual return.

6. The Board has also made amendments in Rule 7B whereby the assessee who has filed the annual return till 30th November may submit a revised return within a period of one month from the date of submission of the said annual return.

7. The Board has also amended Rule 7C pertaining to which the assessee who has delayed in filing the annual return will have to deposit an amount of Rs.100 per day for the period of delay in filing the return subject to a maximum amount of Rs.20,000 to the credit of Central Government.

8. The above amendments are effective from the 1st day of April, 2016.

(Author can be reached at aayush.jain993@gmail.com)

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