Avail benefit of exemption limit of rs.10.00 lakh
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 May 2014
DEAR SIR,
ONE OF MY PRIVATE LIMITED COMPANY CLIENT ENGAGED IN WEB DESIGNING & SOFTWARE SERVICES AND OBTAIN SERVICE TAX CODE IN FIRST YERA I.E.2012-13 .COMPANY'S TOTAL RECEIPT IN F.Y.2013-13 WAS RS8.10 LAKH AND IN F.Y.2013-14 RS9.40 LAKH.COMPANY HAS NEITHER COLLECT ANY SERVICE TAX FROM CLIENTS NOR ANY SERVICE TAX RETURNS HAS BEEN FILLED YET.MY QUERY IN THIS REGARD IS AS :
1.WHETHER COMPANY CAN AVAIL INTIAL EXEMPTION LIMIT OF RS.10.00 LAKH
2.IF YES,WHETHER COMPANY HAVE TO FILE ITS SERVICE TAX RETURN ?
3.WHETHER ANY SERVICE TAX LIABILITY ARISE ON COMPANY ?
ONE OF MY PRIVATE LIMITED COMPANY CLIENT ENGAGED IN WEB DESIGNING & SOFTWARE SERVICES AND OBTAIN SERVICE TAX CODE IN FIRST YERA I.E.2012-13 .COMPANY'S TOTAL RECEIPT IN F.Y.2013-13 WAS RS8.10 LAKH AND IN F.Y.2013-14 RS9.40 LAKH.COMPANY HAS NEITHER COLLECT ANY SERVICE TAX FROM CLIENTS NOR ANY SERVICE TAX RETURNS HAS BEEN FILLED YET.MY QUERY IN THIS REGARD IS AS :
1.WHETHER COMPANY CAN AVAIL INTIAL EXEMPTION LIMIT OF RS.10.00 LAKH
2.IF YES,WHETHER COMPANY HAVE TO FILE ITS SERVICE TAX RETURN ?
3.WHETHER ANY SERVICE TAX LIABILITY ARISE ON COMPANY ?
09 May 2014
1. yes the exemption is available
2. however, since the service receipt have crossed Rs 9 lakhs, you need to register for service tax number
3. no need to collect service tax till receipts cross Rs 10 lakhs
4. return is to be filed only when liability to collect service tax arise.
2. however, since the service receipt have crossed Rs 9 lakhs, you need to register for service tax number
3. no need to collect service tax till receipts cross Rs 10 lakhs
4. return is to be filed only when liability to collect service tax arise.
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