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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
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
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
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
05 July 2013 If you will crossed the exemption limit one time then next financial year ssi exemption will not be available.
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
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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