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

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

Ravikant

Ravikant (Expert)
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22 August 2011 Dont charge ST on bill and collect, till the turnover doesnt exceed 10 lakhs,file nil return

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