07 September 2015
In the F.Y. 2013-14 my gross receipt from service income were Rs. 1050000 and in F.Y. 2014-15 my Gross receipts from service income were Rs.450000 nou my question to panel of experts is since i have not crossed threshold limit of Rs. 10lakh in f.y. 2014-15 do i have to pay service tax in current financial year from day one or i m eligible for exemption for not crossing turnover of 10 lakh in f.Y. 2014-15. Thank you
11 September 2015
Hi As per the exemption notification for small service provider, you will be liable to pay service tax on receipt for FY 2014-15 and further you will not get the benefit of exemption in FY 2015-16 as well.
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