Service tax
DATTATRAY (PROPRIETOR) (68 Points)
05 February 2016DATTATRAY (PROPRIETOR) (68 Points)
05 February 2016
Govind Shah
(CA Final)
(75 Points)
Replied 05 February 2016
Dattatray,
We cnt just arrive at the service tax payable on looking at your recipts. We have to check your invoices as there was a rate change in the month of june.
AmolM
(Audit Assisstant)
(55 Points)
Replied 05 February 2016
Service Tax act/Rules has provided exemption to small scale service provider from service tax up to aggregate value of taxable services provided of 10 lakh in a Financial Year.
There is no need to collect & pay Service Tax till your aggregate value of services does not exceed Rs. 10 lakhs in F.Y.2015-16. Once it exceeds, service tax is payable on the receipts exceeding Rs. 10 lakhs & no need to pay on intial receipts of Rs. 10 lakhs.
Apply for Service Tax Registration Number within 30 days the value of receipts exceed Rs. 9 lakhs in a financial year.
However, if the value exceeds Rs. 10 lakhs in FY 2015-16, then you will have to collect & pay service tax from Re.1 in the F.Y. 2016-17 even if the aggregate value of services provided does not exceed Rs. 10 lakhs.
Service Tax Applicability on Tour Operator:
Taxable service | Taxable Value | Old Effective Rate up to 31.05.2015 | New Ratew.e.f. 01/06/2015 |
(i) Tour service –package tour | 25% | 3.09% | 3.50% |
(ii) Tour service –service solely of arranging or booking accommodation for any person in relation to a tour | 10% | 1.24% | 1.40% |
(iii) Tour service – simple tour services | 40% | 4.94% | 5.60% |
Arpit Aggarwal
(Accountant)
(82 Points)
Replied 05 February 2016
Sir,
I want to start a business of transporter and doing plan for taking service tax no. due to banker's required any registration certificate for a/c open in the name of Firm. my query is that if my total receipts wil be Rs. 6-7 lac per annum then i have to pay tax on in this receipts or will be fill return as a nill or exempted.
i am too confuse about that please suggest anyone.
Thanks & Regards
Arpit Aggarwal
GunaRanjan
(Superintendent of Central Excise)
(21 Points)
Replied 05 February 2016
As your expected income from services to be provided by you are less than threshold limit of Rs. 10 Lakhs, per annum you don't have to obtain Service Tax registration in the first place. If you have to obtain Service Tax registraion for the reasons mentioned by you, obtain service tax registration and file NIL returns
regards
GunaRanjan
MURALI S
(Articled Assistant)
(21 Points)
Replied 06 February 2016
Swamy
(Article)
(116 Points)
Replied 06 February 2016
Debashis Sengupta
(Consultant)
(27 Points)
Replied 07 February 2016
Sir,
Since my consultancy income amount was exceeding 10 lakhs, I did obtain service tax registration and collected service tax and filed return accordingly. But from FY 2016-17, income will be below 10 lakhs.Do I have to continue collecting service tax and file return? Or shall I cancel my registration and do not collect service tax?
Debashis Sengupta
Raghavendra chaturvedi
(Education)
(21 Points)
Replied 07 February 2016
Debashis Sengupta
(Consultant)
(27 Points)
Replied 08 February 2016
Dear Mr.Chaturvedi,
I am not clear on your reply.Can you please elaborate
Regards
Debashis
Swamy
(Article)
(116 Points)
Replied 17 February 2016
Swamy
(Article)
(116 Points)
Replied 17 February 2016
Swamy
(Article)
(116 Points)
Replied 17 February 2016
Swamy
(Article)
(116 Points)
Replied 17 February 2016
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