Changes in Service Tax Return

CBEC issued Notification No.31/2008, incorporated certain changes in Service Tax Return to give effect of the amendment initiated through Finance Act 2008. The changes will be applicable for the Service Tax Return to be filed for the first half of Financial Year 2008-09. Due date for the same is 25th October 2008. Now, the assesses will have to submit the following additional details in their Service Tax Return:

  1. Details of any Advance Tax Paid of Service Tax under Rule 6(IA).
  2. Details of Adjustment for Advance tax earlier paid.
  3. Details of option availed under new Rule 6(3) CENVAT Credit Rules 2004, i.e. either paying 8% of exempted services or using CENVAT on Prorata Basis.
  4. Details of Exempted Goods cleared or Exempted Services rendered through a new entry 5AA.
  5. Apart from this, the code for the new service become taxable after this Finance Act 2008 has been added in the instruction to Service Tax Return form.