Sevice tax exemption limit
sanjay shah (properitor) (71 Points)
21 January 2017
After GST will service tax exemption limit too be 20 laks instead of 10 lakhs now?
sanjay shah (properitor) (71 Points)
21 January 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 21 January 2017
GST will replace Service tax (and some other levies), so question of any limit for ST will not arise!!
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 21 January 2017
Dear Sanjay,
Following laws will be subsumed:-
At the Central level, the following taxes are being subsumed:
a. Central Excise Duty,
b. Additional Excise Duty,
c. Service Tax,
d. Additional Customs Duty commonly known as Countervailing Duty, and
e. Special Additional Duty of Customs.
At the State level, the following taxes are being subsumed:
a. Subsuming of State Value Added Tax/Sales Tax,
b. Entertainment Tax (other than the tax levied by the local bodies), Central Sales Tax (levied by the Centre and collected by the States),
c. Octroi and Entry tax,
d. Purchase Tax,
e. Luxury tax, and
f. Taxes on lottery, betting and gambling.
and All over the limit for Registration will be 19 lacs however you have to pay GST only after if turnover reach at 20 lakh, and this limit is 10 lakh in case of North east states.
sanjay shah
(properitor)
(71 Points)
Replied 23 January 2017
Thks for your reply.That means if some one only providing services and not convered any thing apart Sevice tax act will hv to
pay service tax only abv 19 lacks treshhold which now is 9 /10lakhs?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 23 January 2017
Practically, your understanding is correct, but it will be known as GST.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
