service tax on full fledged money changer

[satbir singhwahi]

Pls explain the procedure for preparing st 3  for full fleged money changer (NBFC), as they  are paying service tax as per rule i.e. Rule 6(7B)of service tax rules 1994.How to enter the rate ?
Thanks & Regards

[Subodh Sharma]

Dear Satbir,

Manual option to select is available to execute tax percent Manual option to select is available to execute tax percent .

tnx

[satbir singhwahi]

Sir

Any rate other than 12 percent is not accepted and st3 is rejected.

[Subodh Sharma]

you may try to fill & submit offline mode is available to filed & submit.

AI Summary

Service tax rate reporting for money changers: prescribed rate must be used; offline filing may be required. Service tax reporting for a full fledged money changer requires declaring the applicable service tax rate on the ST 3 return; the online form allows manual tax percent selection but reportedly accepts only the prescribed rate, causing submissions with a different rate to be rejected. Suggested operational remedies include using the manual selection where available or preparing and submitting the ST 3 offline when the online interface prevents acceptance of the intended rate.