11 January 2017
Is the exemption limit of Rs.10 lacs applicable from gross amount of bill raised or net taxable services after abatement.
For example: If a contractor raises a bill of Rs.30 lacs in a year on account of construction of building. Is he liable to pay service tax as the taxable service is Rs.9 lacs (i.e 30 lacs - 70% abatement). He doesn't have any other receipt for the financial year.
CAclubindia
