27 October 2016
dear experts,
if an assessee has charged service tax during financial year 2015-2016 and deposited the same.
now if in a y 2016-2017 assessee wants to claim exemption limit based on py turnover I.e. below rs 10 lacs ,can he do so..or now in ay 2016-2107 he can not claim exemption because he has already charged service tax on bills in a y 2015-2016 ( I want to clear whether exemption is one time or it depends on last year turnover)
please suggest , confusion has arises due to difference in opinion of different persons.
Thanks
Ashish Saini
01 November 2016
No exemption would be available for subsequent year even though the aggregate value is less than 10 lakhs. service provider has to pay service tax from Rupee one
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