1000000 exemption limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2014
Sir
f.y.2012-13 mein meri 8900000.00 exempted service tax value and 1400000.00 taxable service tax value total turn over 10300000.00 to 100000.00 ki exemption limit kis value par milegi.
f.y.2012-13 mein meri 8900000.00 exempted service tax value and 1400000.00 taxable service tax value total turn over 10300000.00 to 100000.00 ki exemption limit kis value par milegi.
26 May 2014
The small service provider exemption of ` 10 Lakh is available towards “aggregate value not exceeding ` 10 Lakhs”, means the sum total of value of taxable services charged in the first consecutive invoices issued during a financial year but does not include value charged in invoices issued towards such services which are exempt from whole of service tax leviable thereon under section 66B of the said Finance Act under any other notification.
The definition of the ‘aggregate value’ has been amended w.e.f. 01.04.2012 whereby the sum total of the value of taxable services charged in the first consecutive invoices issued/required to be issued during the financial year shall be considered instead of payments received.
so that 14,00,000/- consider for threshold exemption of Rs. 10,00,000/-
The definition of the ‘aggregate value’ has been amended w.e.f. 01.04.2012 whereby the sum total of the value of taxable services charged in the first consecutive invoices issued/required to be issued during the financial year shall be considered instead of payments received.
so that 14,00,000/- consider for threshold exemption of Rs. 10,00,000/-
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