basic exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2010 A company is providing taxable service and is collecting service tax and paying it as per law.

Now they are commencing providing another taxable service.

Pls advise whether they are entitled to exemption of Rs 10 lakhs on the new service?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 June 2010 No.Basic exemption given for the aggregate value of service provided sec.67. so already you taxable service provider crossed Rs.10 lakhs cannot take exemption for new service which is under Rs.10 Lakh

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