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Excemption

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(Querist)
08 May 2009 Sir,
Pls correct me if I am wrong,
1.Service tax is excempted upto 10 lakhs of taxable services but can't avail CENVAT credit.
2.Any time during the year if taxble services exceeds ten lakhs, service tax is applicable on the balance exceeding 10 lakhs.

Thanks & Regards,
Girish
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SIDDHARTHA SANKAR ROY

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SIDDHARTHA SANKAR ROY (Expert)
08 May 2009 Yes you are right.Remember service tax upto 10 lakhs is exempted only if you have not charged or collected it.
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