Sir,
We are proprietorship company having S.T registration since 20.01.2005 ( Reg. No.not based on Pan No.) and on 29.03.2005 we deposit S.T through TR-6. Since then we have not submitted any return and not collected any service tax. At present also we also not rendering any service . Now my question is.........
1 Can we regularise the Return? If yes, shall we submitted the return from 2005 half yearly or we just can submit the return for the 1st half of current year?
2. Are we aligible to take credit the S.T paid by us on account of Import , Clearing and handling charges, transport and courier, Telephone bills, Electricity Bills etc.
3. Is the S.T credit Amount refundable?
Please help me in this regard.
Proprietorship Must File Service Tax Returns from 2005; Claim Credits if Paid, Refunds Mostly Non-Refundable Unless Export Related. A proprietorship company with a service tax registration since 2005 has not submitted any service tax returns or collected service tax since its initial deposit in 2005. The company seeks advice on regularizing returns, eligibility for service tax credit on various expenses, and refundability of the service tax credit. Responses indicate that all returns must be filed with potential penalties, and service tax credit can be claimed if service tax is paid and regular returns are filed. Refunds are generally not available unless related to exports. Filing 'Nil' returns is necessary even if no taxable services are provided. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
