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Service tax is a tax imposed on all service providers by the government of India. It is an indirect tax which is to be collected by the service providers from the service receiver and paid to the government. A business is liable to register for service tax when the annual turnover crosses 9 lacs and it is compulsory to collect service tax when it crosses 10 lacs.
If you are in the service industry and the average service value falls in the tax bracket, youÃ¢â‚¬â„¢ll have to obtain the service tax registration. The service tax payments are made on a monthly basis while the returns are to be filed half yearly.