Collection of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2011
Dear all,
we have registered for service tax on the assumption that the turnover exceeds Rs.10 lakhs previously,If the turnover exceeds 10 lakhs do we pay on the amount which is above the 10 lakhs or on the total turnover? If the turnover assumes to be below the 10 lakhs in the current financial year do we collect and pay the service tax or not to collect the service tax ?
pls resolve the same
reg.
vamsi
we have registered for service tax on the assumption that the turnover exceeds Rs.10 lakhs previously,If the turnover exceeds 10 lakhs do we pay on the amount which is above the 10 lakhs or on the total turnover? If the turnover assumes to be below the 10 lakhs in the current financial year do we collect and pay the service tax or not to collect the service tax ?
pls resolve the same
reg.
vamsi
CMA Ramesh Krishnan
(Expert)
22 August 2011
Rs.10 Lakh turnover need to be checked with the previous year turnover,in case your turnover for the previous year more than Rs.10 Laks, the need to start charging service tax current year from starting sales itself.
Once you start charging service tax,it will be continuously apply year by year even your turnover below 10 lakhs further years
Once you start charging service tax,it will be continuously apply year by year even your turnover below 10 lakhs further years
22 August 2011
Dont charge ST on bill and collect, till the turnover doesnt exceed 10 lakhs,file nil return
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