Service Tax Return form Revised

The Service Tax Return Form (ST-3) has been revised by the Central Board of Excise and Customs. The new Form should be used by the taxpayers for the next return to be filed by 25th April, 2007. The format has been finalized after taking into account all the suggestions received from stake holders, namely, the taxpayers, consultants and departmental officers. To meet the long standing request of taxpayers, detailed instructions have been provided for filling up of the Form.

The revised Form of Service Tax return has the following features:

- The format is fully compatible to automation and e-filing of return.
- In last two years significant changes have been made in law and procedure. The resultant changes have been incorporated in the new format. As the secondary and higher education cess on taxable services would come into force after enactment of the Finance Bill, 2007, the relevant entries would be applicable after such enactment.
- A separate entry has been prescribed for furnishing information regarding self adjustment of service tax paid in excess during an earlier period, against service tax liability for the period for which return is being filed. This provision has come into effect since presentation of Budget 2007.
- Separate entries have been made for seeking information specific to large taxpayers who have opted for Large Taxpayers Units. Other taxpayers need not fill in these entries.
- Separate entries have been prescribed for computation of service tax and details of payment of service tax. The taxpayer is only required to furnish computation details separately for each taxable service. The details for payment of service tax are to be furnished in a consolidated manner. This is a simplification measure.
- A new entry has been prescribed for furnishing of premises code. This would facilitate in easier identification of jurisdictional division and range in which the taxpayer falls.

Source : Press Information Bureau

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