Basic exemption


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Querist : Anonymous

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Querist : Anonymous (Querist)
05 July 2013 DEAR SIR,

TAXABLE SERVICES PROVIDED DURING THE BELOW FINANCIAL YEARS:

2008-09 - 9,00,000
2009-10 - 10,00,000
2010-11 - 11,00,000
2011-12 - 8,00,000
2012-13 - 11,00,000

ON WHICH AMOUNT SERVICE TAX IS APPLICABLE FOR EACH YEAR

05 July 2013 In the financial year 2010-11 you will pay the service tax on the value of one lakh and after this financial year you will pay the service tax from starting.

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 July 2013 THE TAXABLE SERVICES FOR 2011-12 DIDN'T EXCEED 10 LAKHS SO FOR THE FINANCIAL YEAR 2012-13 ON WHAT AMOUNT SERVICE TAX WILL BE ATTRACTED,WHETHER ON 11,00,000 OR 1,00,000

05 July 2013 If you will crossed the exemption limit one time then next financial year ssi exemption will not be available.

05 July 2013 yes, agreed with expert's opinion. The assessee can collect from the party after reaching 10 lacs and avail cenvat/input benefit.


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