Can we show more than 10,00,000 as turnover
This query is : Resolved
29 July 2015
Sir,
We are doing all corporate registration(Consultancy business) we have not registered with service tax as we are mostly collecting cash from the customer and we are not raising any invoice .Bank statement shows only 8,00,000 as income but we did the business for more than 20,00,000 last year. We have registered with service tax only on 24th may 2015 (Excess of 30 days).
Please guide me can we show 20,00,000 as income for the last year.
Thanks
Angel priya
We are doing all corporate registration(Consultancy business) we have not registered with service tax as we are mostly collecting cash from the customer and we are not raising any invoice .Bank statement shows only 8,00,000 as income but we did the business for more than 20,00,000 last year. We have registered with service tax only on 24th may 2015 (Excess of 30 days).
Please guide me can we show 20,00,000 as income for the last year.
Thanks
Angel priya
29 July 2015
Yes it can be shown, You have to pay service tax on 10 lacs, no service tax payable on first 10 lacs for the first year.
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