Applicable limit
This query is : Resolved
07 April 2009
What is current limit of service turnover for application of service tax and if the turnover crossess the limit, service tax shall apply in the same year on the turnover exceding exempt turnover or from next year
07 April 2009
limit is 10 lac. if the amount crosses to 10lac then service tax is payable on whole turnover in the current year.
C A GROUP COACHING
(Expert)
07 April 2009
Mr Jitender, You are right in telling the limit as 10 Lkhs, But once you cross
9 Lkhs you have to apply for registration & after that once you cross 10Lkhs you have to start charging service tax & Pay / Deposit all such service tax applicable on the T/O exceeding 10 Lkhs, Not on your entire T/O of 10 Lkhs. This provision becomes applicable only in the first year when you take registration, there after for the next year onwards your liability towards collection & payment of service tax shall begin from first rupee billing.
Any further query you can call me
Chandrakant Ambani
Mumbai
9819408963
9821240674
9 Lkhs you have to apply for registration & after that once you cross 10Lkhs you have to start charging service tax & Pay / Deposit all such service tax applicable on the T/O exceeding 10 Lkhs, Not on your entire T/O of 10 Lkhs. This provision becomes applicable only in the first year when you take registration, there after for the next year onwards your liability towards collection & payment of service tax shall begin from first rupee billing.
Any further query you can call me
Chandrakant Ambani
Mumbai
9819408963
9821240674
10 April 2009
i support mr. jitender
10 April 2009
answered
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