Definition of turnover for claiming service tax exemption
This query is : Resolved
17 July 2013
i have a query about legal services provided by advocate to a company....as per exemption notification if the bussiness entity have less than 10 lakh turnover in PFY, then they not required to deposite service tax under reverse charge...my question is what will be meaning of turnover for a company which have no gross receipt/sale/purchase..inspite d fact company plant is under construction & all d exp will capitilized...PLS GIVE US D ADVICE SOON...PLSSSSSSS
CMA Ramesh Krishnan
(Expert)
17 July 2013
Basic exemption Rs.10 lakh is the total of all the taxable service provided. it is turnover of all the taxable services.
How ever legal services to company by advocate covered under reverse charge method.under RCM no basic exemption, starting itself need to pay service tax
How ever legal services to company by advocate covered under reverse charge method.under RCM no basic exemption, starting itself need to pay service tax
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