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Threshold exemption, Service Tax |
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Threshold exemption |
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I have crossed receipt of ₹ 13 Lakhs in the yeatr 2001-2012. I have paid service tax for the above receipt of ₹ 3Lakh/-(Rs.10Lakhs exemption). In Receipt of ₹ 10Lakh I have received and paid Service tax for the sum of ₹ 4Lakh. Now Whether i have to pay service tax for the balance of ₹ 6Lakh for the above year. Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Your query is not clear. The threshold exemption for levying service tax is ₹ 10 lakhs. If the turnover exceeds ₹ 10 lakhs in a financial year service tax is laible to be levied.
Sir, In the first year for one time, you can get threshold exemption upto ₹ 10 Lacs and then u need to get registration and pay service tax on amount exceeding ₹ 10 Lacs. However, if the above ₹ 13 lacs pertains to next/subsequent year, then you have to pay service tax on the whole amount i.e. on Rs. 13 lacs.
Dear Sir, The reply of Sh.Naveed Ji is right. If your turnover exceeds ₹ 10 Lakh during previous Financial year, You have to take registration during the succeeding year and start paying service tax on all your transactions. Page: 1 Old Query - New Comments are closed. |
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