excess of 10 lakhs
This query is : Resolved
20 November 2009
dear experts
if the service receipt in the last year exceeds 9 lakhs and got registered. can we claim exemption in the current year upto 10 lakhs receipt or we have to count the balance amount from the last year 9 lakhs i.e., 10 lakhs minus last year service receipt?
thanks in advance
if the service receipt in the last year exceeds 9 lakhs and got registered. can we claim exemption in the current year upto 10 lakhs receipt or we have to count the balance amount from the last year 9 lakhs i.e., 10 lakhs minus last year service receipt?
thanks in advance
CA Ravi Sisodia
(Expert)
20 November 2009
in current year you can avail exemption for wholle Rs.10 lakhs.
20 November 2009
Agreed with Expert Ravi. If provided your receipts was less than 10.00 lakhs, in the next accounting year you will continue to remain registered and you will be obliged to file the returns on due dates. However, your liability to service tax will start once you cross 10.00 lakhs in the year. Do not forget to file your nil returns as registration casts that obligation on you. Once you have crossed 10.00 lakhs in the year, your liability for service tax starts from day 1 in the next year.
chetan soni
(Expert)
20 November 2009
i also agreed with the experts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
