Service Tax is essentially an indirect tax.
Individuals are required to pay the Service Tax only once in a quarter. Companies can pay Service Tax for one month by the 25th of the following month.
The Finance Act of 2001 launched self-assessment for Service Tax returns so that assessees can are spared the inconvenience of regular scrutiny.
Although legal penalties exist for failing to pay Service Tax, these penalties cannot be imposed if the assessee can prove that there was due cause for failure.
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