Calculation formate

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HrishiUsha (Querist)
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01 August 2016 Sir
I am running a coaching institute at Imphal
As advice bu the Central Excise Dept. I got registration of service tax in the year 2012
But as my annual collection of fee is less than Rs. 10 Lakh I only file return and not pay any tax till date.
But this year my annual collection may be about Rs.13 to 13.5 Lakh.
My question is total collected annual fee are my gross income?
Whether I have to deduct the expenditure, teacher's salary and advertisement cost?
Whether I have to calculate tax for whole amount or the amount above threshold limit?

Lastly Please Calculate my service Tax for my following income below:
Total collected fee Rs. 13,50,000/-
Teachers pay Rs. 4,50,000/-
Advertisement cost Rs. 2,90,000/-
Staff salary Rs. 2,20,000/-
Misc. (electricity,tetephone, paper, conumable item) Rs. 1,85,000/-
Total remaining is Rs. 3,05,000/-

Thanking you and waiting for your valuable responds.

HK
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Amol S Joglekar

Amol S Joglekar (Expert)
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01 August 2016 for service tax, no deduction of any of the expenditure. You need to calculate on 13,50,000. 0,the first year of payment of service tax, you will get a basic limit of 10 lakh.

The 305,000 is for your income tax purpose and NOT for service tax.

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