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When to register for servise tax?

Service Tax (Legacy) 1293 views 11 replies

Hi Friend,

I am starting a new business of tours and travels, and the type of business Sole proprietorship. please guide me for my below mentioned query:

  1. when should i register for servise tax? is it before i start first transaction of my new business or after i reach taxable income of 10 lacks?
  2. If the answer is later one, then should i continue business without servise tax number till it reaches 10 lack?
  3. In this case the INVOICE to be generated will be without Service Tax Number?
  4. Foe the sole proprietorship business, do i need to have PAN card  of business entity or i can use my own PAN card?

Thank you

Alpesh

 

Replies (11)

AS PER ACT LIMIT IS 9 LACS...AFTER CROSSING LIMIT REGISTRATION IN COMPULSORY.

ASSESSS YOUR SELF ABOUT VALUE OF TAXABLE SERVICE RENDERED..

BUT ALWAYS FOLLOW SAFE SIDE BY TAKING REGISTRATION.

Thanks for your reply,

It means my Invoices will be without Servise Tax number till i get registered for the same. Am i right?

Thanks

Alpesh

Yes, you are right.No need of service tax registration no. till u cross 9 Lakhs turnover

I too agree with above replies

Thank you friends for the valuable information..

What type of "accounts" i will have to maintain in this sole proprietor business?

Originally posted by : M.Varalakshmi

Yes, you are right.No need of service tax registration no. till u cross 9 Lakhs turnover

YES.AGREE

as per service tax rules 

if ur taxable turnover  exceeds 9lakhs,u need to register with superindent  of central excise by applying in form ST1 along with ur PAN(permenant account number).as ur going to be a sole proprietoryship business,in my opinion ur PAN is enough.u need to register with in one month when ur taxable turnover exceeds 9lakhs.ur liable to pay service tax when ur taxable turnover exceeds10lakhs.

Thank you smiley

Dear Queriest,

1) you are not required to apply service tax until your "RECEIPTS" do not exceed Rs. 9,00,000/-

2) No Seprate pan card is required for the properitership firm
    The firm is assessable in the PAN OF PROPRIETOR in Income tax

Thanks for your Query

 

1) you are not required to apply service tax until your "RECEIPTS" do not exceed Rs. 9,00,000/-

2) No Seprate pan card is required for the properitership firm
    The firm is assessable in the PAN OF PROPRIETOR in Income tax

Accounts should be maintain through voucher and your receipts

I ASLO AGREE WITH THE ABOVE MENTIONED ANSWERS.


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