Sole-Proprietorship vat, service tax declarations

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  1. praveensambu

    praveensambu New Member


    I would be interested to know of you start and IT based sole proprietor ship company,

    a) how often do you have to declare your income, vat and service taxes.

    b) Do we need to take service tax in case the services are provided to a European country like France?

    c) Could you also guide me if I can declare all taxes online with less hassles.

  2. James Joseph

    James Joseph New Member

    VAT is state subject and it should be returned monthly. The VAT payments are also to be paid monthly.
    Services tax is central subject and the payments are to be settled monthly but returns are once in six months only.

    The software exports are free of service tax now.

    Most of the states have adopted online VAT filing and internet banking
    Service tax returns are online and payments can be made through internet banking.
    Income tax filing are web enabled and online payment can also be used. Income tax department have provided java and excel utility for the same. Certain online portals are also available for income tax filing.
    Profession tax are to remitted manually depend on the local self government office.
  3. praveensambu

    praveensambu New Member

    Thanks a lot James. This evening a CA told me that normally up until 9 lakhs of sales, one does not need to pay any service tax and any sales after that one should collect service tax from customers and pay it to the government quarterly and the declarations can be made half early. And for income tax it is yearly. in my case i did some export of software solutions so ...invoice generated did not have any service tax on it. I did not even cross this 9 lakhs so far. So my understanding goes I dont have to declare anything for the time being and need not worry until we exceeds 9 lakhs. At the sametime i was told to register with service tax department. Is this something one can do online? even for filing it would be great if someone can give me a link. Thanks :)
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