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Discussion > Service Tax > Queries >

Exemption limit for service tax

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Practice


[ Scorecard : 241]
Posted On 27 February 2008 at 18:12 Report Abuse

Since from FY 07-08 the limit of exemption for small sevice provider is 8 lacks then if service turnover is exceeds to 10 lakhs then sevice tax would be applicable for whole 10 lakhs or additional 2 lakhs only?



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AMIT KHURANA
Professional


[ Scorecard : 124]
Posted On 27 February 2008 at 18:44

on additional 2 lakh only.




ravellashyam
Tax Adviser


[ Scorecard : 37]
Posted On 27 February 2008 at 19:09

service tax is exempt upto 8 lacks in the last 12 months period and not the previous years or if our estimated turnover on newly started business is more than 8 lacks we have to get retistrations by applying in form no.ST-1

but the service tax people are insisting on the payment of service tax on whole 8 lacks before registration



CA O.P. SINGH
O P Singh & Co.


[ Scorecard : 426]
Posted On 28 February 2008 at 07:42

it will be only on receipt exceeding 8 lakh



Rakesh
Asst Manager


[ Scorecard : 209]
Posted On 28 February 2008 at 08:57

it ll be on the additional receipt of 2 lakhs only



CA Hemant T Dewani
Chartered Accountant


[ Scorecard : 3351]
Posted On 28 February 2008 at 10:17

in the f y 07-08 if your receipt is in excess of rs 8 lk then you are liable to service tax and your services are including of service tax if you are not charged seperatly service tax but in the following year your tax liability is from first rs.eight lakhs exemption is not available to you to the subsequent year



CA. Kirti S. Ganatra
Service


[ Scorecard : 1461]
Posted On 28 February 2008 at 10:53

It is to be charged on 2 Lakh



Aditya M
Student


[ Scorecard : 166]
Posted On 28 February 2008 at 13:52

on 2 lakhs



C.Giridhar Krishna
CA Final Student


[ Scorecard : 85]
Posted On 28 February 2008 at 16:57

Can I have the section for exemption limit for service tax? Another issue is, the rent for the Financial Year 2007-08 as per the agreement is Rs. 18 lakhs. The agreement is entered during the month of June 07 in the name of Mr. X. Mr. X died on August 07 and the rent is received by his son Mr. Y thereafter. Should Mr. Y include in his taxable service the amount received by Mr. X also for charging service tax? Please reply



C.Giridhar Krishna
CA Final Student


[ Scorecard : 85]
Posted On 28 February 2008 at 16:58

Can I have the section for exemption limit for service tax? Another issue is, the rent for the Financial Year 2007-08 as per the agreement is Rs. 18 lakhs. The agreement is entered during the month of June 07 in the name of Mr. X. Mr. X died on August 07 and the rent is received by his son Mr. Y thereafter. Should Mr. Y include in his taxable service the amount received by Mr. X also for charging service tax? Please reply


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