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)?
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)?
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.
He has to pay service tax on billing over 10 lacs only.
11 August 2010
Service tax will apply above the basic exemption limit of Rs. 10 Lacs.
11 August 2010
agreed with experts.
but he needs to file nil return otherwise penalty shalll apply
but he needs to file nil return otherwise penalty shalll apply
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