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TMI BlogExemption clarificationX X X X Extracts X X X X X X X X Extracts X X X X ..... Exemption clarification X X X X Extracts X X X X X X X X Extracts X X X X ..... urender Gupta: The Reply: It is common understanding that once you are availing exemption under notification no. 6/2005, you have to deposit the amount of service tax charged on the bills raised in the previous year but realized during the exemption period. However, I have a different view and accordingly you need not to pay service tax on such realization during the exemption period. Reply By Mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hukar N Hiregange: The Reply: I presume that in the current year you have not reached the exemption limit of Rs. 8 lakhs and are nopt paying the ST. The eligibility limit of Rs. 10 Lakhs for the year 08-09 depends on the taxablke service provided. If you do not reach the same you would be eligible for the exemption in the next year. If already crossed I am of the opinion that the eligibility wou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld remain the same. however the amount on which you have charged the ST in the current year which is recived in the next year would be liable for the payment of ST. I differ with the view of Mr. Gupta. Reply By V Ramanujam: The Reply: If you are taxable in the year 2007-08 and started charging tax on your bills, you are liable to pay tax on collections from 1.4.08, though you may fall within the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hreshold limit from 1.4.08. Thus, what is important in this case, if tax liability is already passed on, then the same should be deposited irrespective of the fact whether you are opting for exemption or not from 1.4.08. X X X X Extracts X X X X X X X X Extracts X X X X
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