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 ?
Nikhil Kaushik
(Expert)
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- Gift to nri relatives residing in usa
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
