Registeration and Taxability

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..... Registeration and Taxability
Query (Issue) Started By: - vignesh VSACCOUNTOPRIVATELIMITED Dated:- 18-1-2021 Last Reply Date:- 22-1-2021 Service Tax
Got 4 Replies
Service Tax
Sir one of my client has registered under service tax in April 2015 and he has received rent from commercial property ₹ 20.00 Lakhs and he has started paying service tax after Crossing ₹ 10.00 Lakhs on .....

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..... ly on the assumption that, the first 10.00 lakhs is not liable for tax and he has not charged from the client too. is that correct? can u give any notifications for the same! Reply By Shilpi Jain: The Reply: Only in the first year he crosses 10L he would not be liable to ST on the 10L. Next year onwards liability will exist on entire 20L Reply By Ganeshan Kalyani: The Reply: Sir, in the first .....

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..... year of registration the threshold exemption of ₹ 10 lacs is available. That means you have to pay service tax on amount above ₹ 10 lacs. In the next year, since registration is already there, service tax is to be charged right from first invoice. Reply By KASTURI SETHI: The Reply: I agree with both experts. In this context, pl. refer to Notification No.33/12-ST dated 20.6.12 (effec .....

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..... tive from 1.7.12) (Clause No. viii refers.). Relevant extract of notification is appended below: Provided that nothing contained in this notification shall apply to,- (viii) the aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed ten lakh rupees in the preceding financial year. Preceding means previous, coming before something .....

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..... in order. Reply By vignesh VSACCOUNTOPRIVATELIMITED: The Reply: Sir. 1. in a case where the previous year turnover was below 10 lakhs and for the current year the Rental income crosses 10 lakhs (ie 1. Bill.No.1. ₹ 9,35,000+ Bill.No. 2. ₹ 1,20,000/-) should we charge Service Tax for the last bill of ₹ 1,20,000/- or for an amount exceeding 10.00 lakhs i.e for ₹ 55,000/- al .....

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..... one 2. Registration is done on 30.09 2015 and client have an input service bill with Tax of ₹ 22,000/- dated 31.07.2015, can he claim the service tax portion after he starts filing Service Tax Returns and paying Taxes during the financial year 2015-2016?
Discussion Forum - Knowledge Sharing .....

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