I've one general query related to service tax hope u guys will me
Rs 60 Lakh limit for levying interest on late deposit ( i.e.18% ) refers to total value of taxable service per annum – Does this limit includes value of exempted services (exported services, services to UN agencies etc) too.
23 April 2012
Value of taxable services does not exceed sixty lakh rupees during the last preceding financial year ,then rate of interest is 15%. Thus, value of exempted services need not be looked into to determine the said Rs.60/- lakhs.
CAclubindia
