Service tax

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DEEPAK GOYAL (Querist)
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25 January 2012 Hello everybody. one person starts a new business in sole prop. and now he wants to open a Bank Account in Private Banks, also for some monetary purpose. But the bank wants any registration of the Prop. firm. Now suggest me if i register his firm in service tax. whether he will be liable for charging service tax on his very first invoice or not?

U S Sharma

U S Sharma (Expert)
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26 January 2012 for bank accounts you need a trade licnce (certificate of establishment) which is issued from you local municipal body.

if he start to charge service tax from start, then he will loose his 10Lacs exemption for ever. so better charge from 10lacs onwards.