Basic Exemption Limit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2010 What is Service Tax Liability under the given instance?
A person has started new business of providing taxable service in F.Y. 2009-10.
For that respective year his receipts is Rs. 600,000/- upto the month of August, 2009. He voluntarily registered under Central Excise for Service Tax.
Whether he is liable to pay service tax on Rs. 600,000/- (i.e. receipts upto August) or he is liable to pay from registration onwards OR He should wait till basic exemption limit is exhausted (i.e. Rs. 10lacs)?

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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11 August 2010 No, He is not liable to pay service tax on upto reciept not increased by 10 lacs.

He has to pay service tax on billing over 10 lacs only.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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11 August 2010 Service tax will apply above the basic exemption limit of Rs. 10 Lacs.

srinath

srinath (Expert)
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11 August 2010 agreed with experts.

but he needs to file nil return otherwise penalty shalll apply

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