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RECEIVER CANNOT AVAIL THE BENEFIT OF THRESHOLD EXEMPTION SCHEME

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 2-9-2015 - Threshold Exemption Scheme A threshold exemption scheme was introduced in Union Budget 2005-06 (effective from 1.4.2005) exempting from service tax aggregate value of taxable services not exceeding four lakh rupees received by the service provider during a financial year. A point has been raised whether payments received after 1.4.2005 towards the services provided prior to 1.4.2005 would be included while computing this threshold value .....

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been enhanced to ₹ 9 lakhs from ₹ 7 lakhs. W.e.f. 1.4.2012, aggregate value shall mean the sum total of value of first consecutive invoices issued or required to be issued, as the case may be, during a financial year, but does not include value charged in invoices towards such services which are exempt from whole of service tax leviable thereon under section 66 of the Finance Act under any other notification. Receiver cannot avail the benefit The small service provider s exemption s .....

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e service provider in such cases. Uptil 30 June, 2012, these included mutual fund distribution, services rendered from outside India, life insurance, general insurance auxiliary services, recipient of goods transport service etc. Notification No. 33/2012-ST, dated 20.06.2012 which provides for threshold exemption up to ₹ 10 lakhs from payment of Service Tax specifically excludes the service receivers who are liable to pay Service Tax under reverse charge. Thus even for any isolated and/or .....

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his proviso is excluded from the benefit of Notification No. 33/2012-ST. It is noted that under clause (ii) of this Notification contemplate such value of taxable service in respect of which the service tax shall be paid by such person in such manner as specified in section 68(2) read with Service Tax Rules, 1994. In this clause word used such value has an importance which inter alia contemplates that the value on which the Service Tax is payable by service recipient is not entitled for general .....

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