Changeability of service tax?
This query is : Resolved
03 September 2012
My client charged service tax in 1st year of registration to get CENVAT though he didn’t cross basic exemption limit. In second year can he avail the exemption limit of Rs.10L?
03 September 2012
No, exemption can be claimed in the first year only. If he has not claimed the exemption then it is not allowed to take credit in the subsequent year
03 September 2012
If Client Services Not Exceed Rs. 10 Lacs During Last Year, Then Still He is SSI, & Can Claim Exemption for This Year.
But CENVAT Credit of Last Year Cant Be C/F, & No Benefit of CENVAT Credit is Available.
But CENVAT Credit of Last Year Cant Be C/F, & No Benefit of CENVAT Credit is Available.
03 September 2012
@Ayush: Though he start charging s.t. in 1st year?
03 September 2012
Tell Me Numerical Figure Closing Balance at Enf Year of First Year.
Actually, If U Claim Exemption in Any Particular Year, Then Balance Standing in Your Accounts as CENVAT Credit is Dismissed.
Actually, If U Claim Exemption in Any Particular Year, Then Balance Standing in Your Accounts as CENVAT Credit is Dismissed.
04 September 2012
In 1st year Client is having
Outward sevices - Rs.538650/-
Inward Services - Rs.445500/-
(In all above figure service tax has been charged and cenvat has been taken)
Now he want to avail basic exemption limit
Outward sevices - Rs.538650/-
Inward Services - Rs.445500/-
(In all above figure service tax has been charged and cenvat has been taken)
Now he want to avail basic exemption limit
04 September 2012
Now Tell me Is There Any CENVAT Credit Balance Lying of Last Year in Current Asset as Opening,
If No, Then Eligible for SSI
If No, Then Eligible for SSI
04 September 2012
No. Thank you for support...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
