Basic Exemption
This query is : Resolved
CA Sandesh Bhandare
(Querist)
27 April 2011
If i have crossed turnover of Rs 25 lacs in the previous year and now in current financial year my service gets liable under service tax law though new entry. Will i be able to get basic exemption of 10 lacs in current year also? Whether i am small service provider based on last years turnover?
Ajay Raghatate
(Expert)
28 April 2011
No once you have crosses the limit of 10 Lacs, then you are not eligible to avail such exemption.
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