Collection of st

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2015 I have got Service Tax registration last year however in last year and current year my gross receipt was less than Rs. 10 lack. Neither last year nor current year I have collected Service tax but filed the return as zero. Is it correct?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 July 2015 Yes you have done correctly. Service Tax should be collected once Rs 10 Lacs limit is crossed.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2015 If last year I have collected ST as my Gross Receipt is more than Rs. 10 lac but current I know that my gross receipt will be less than 10 lac should I collect the ST

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 July 2015 Yes you should collect and pay Service Tax.
If gross receipt of current year is below Rs 10 lacs then in next financial year there is no need to collect and pay Service Tax.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 July 2015 Yes you should collect and pay Service Tax.
If gross receipt of current year is below Rs 10 lacs then in next financial year there is no need to collect and pay Service Tax.

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