Discussion > Service Tax > Queries >

# Service tax for taxable sevice

Pages : 1 2

 CA.Anupriya Agarwal Practising CA [ Scorecard : 106] In FY 2011-12 , Turnover of a Non Taxable Service is Rs. 8.5 Lakhs   In FY 2012-13, Turnover of the same from Apr'12 to June'12 is Rs. 3 Lakhs From July'12 to Dec ' 12 , the service is now taxable & the Turnover is Rs. 8 Lakhs.   Question is : Whether Exemption of Rs. 10 Lakhs available? ,                           Calculation of Basic Exemption of Rs. 10 Lakhs will be calculated from which period.? Apr'12 to Mar '13 or                July'12 to Mar'13?                          what will be the  Taxable turnover / Service of the Company , 8 lakhs or 11 lakhs? Ch.Dinesh CA Final [ Scorecard : 54] Service tax is payable in C.Y only when taxable T.O exceeds 10lakhs in the P.Y. Service tax is not payable upto the first consecutive payments not exceeding Rs.10 lakhs in the C.Y when taxable T.O is less than 10 lakhs in P.Y. Taxable T.O is 8 lakhs. Period shall be Apr 12 to Mar 13. Sumit Grover Chartered Accountant [ Scorecard : 1805] Yes, 10 Lacs exemption shall be available for the FY 2012-13. Hence net taxable turnover for current year so far shall be---- Nil (I.e. 8Lacs- 10Lacs) CA.Anupriya Agarwal Practising CA [ Scorecard : 106] What is the Turnover in the FY 2012 -13  = 8 lakhs or 11 lakhs? CA.Anupriya Agarwal Practising CA [ Scorecard : 106] Will we ignore the turnover of Rs. 3 Lakhs earned in Apr'12 to June'12 while calculating Taxable service?? Because if we take Rs. 3 Lakhs then the total is 11 lakhs and we have to pay tax on Rs. 1 lakhs. Sumit Grover Chartered Accountant [ Scorecard : 1805] Was the service provided in period ---Apr-jun'12 was specifically covered under any other exemption? CA.Anupriya Agarwal Practising CA [ Scorecard : 106] yes, the service was provided between apr to june. it was not taxable in PY and was taxable w.e.f. 01/07/2012. will he get proportionate exemption from july'12 - dec'12 of Rs. 10 lakhs? or whole amt of 10lakhs? CA.Anupriya Agarwal Practising CA [ Scorecard : 106] No, not covered in any exemption... it wasnt taxable only.. Sumit Grover Chartered Accountant [ Scorecard : 1805] Whole amount of exemption of Rs. 10 Lacs shall be allowed, but it shall be noted till the ST exemption is taken, then no CENVAT should be availed during that period(Further, refer Notification No. 33/2012)----it states the value of taxable services during Financial Year. hence, entire amoutn of Rs. 10Lacs shall be entitled for exemption, without any proportionate method. CA.Anupriya Agarwal Practising CA [ Scorecard : 106] what is the taxable turnover for 12-13 8 lakhs or 11 lakhs?

There are 16 Replies to this message

### Related Files

 Prev12Next

## Post your reply for Service tax for taxable sevice

Your are not logged in . Please login to post replies

Not a member yet ?? Click here to signup

### Message

• Use thank button to convey your appreciation.
• Maintain professionalism while posting and replying to topics.
• Try to add value with your each post.