23 October 2008
While presenting Budget 2008 in the parliament, the Finance Minister announced an increase in the exemption threshold limit for service tax liability from Rs 8 lakhs to Rs 10 lakhs.
23 October 2008
Thanks Shailesh. But I have already registered under service tax, Is there mandatory on me to charge service tax whether receipt during the year is below exemption limit.
One can wait towards Registration of Service Tax uptill its turnover does not reaches Rs. 9 Lacs and should charge Service tax for turnover above Rs. 10 Lacs provided your turnover for last F.Y. was also below threshold limit. But , Since you have already got service tax registration no. you must charge service tax even your turnover is below threshold limit . Also you can avail input credit for services received.
23 October 2008
If in current year receipt of Rs. 9Lac than there is mandatory for charging the Service tax. (I have already taken service tax registration no.)
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