Exemption after reaching 10 lacks and above
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 April 2016
we already have service tax registration. but never reached up-to Turnover of Rs 10 Lacs. In FY 2014-15 our TO was 6 Lacs. This tear we Crossed Exemption Limit of 10 Lacs. Turnover for FY 2015-16 is 12 Lacs. Now I am liable to pay Service Tax. Please suggest weather I will pay Service Tax on 12 Lacs or 2 Lacs?
CA R SEETHARAMAN
(Expert)
10 April 2016
For the first year pay service tax on 2 lacs from next year pay it without any exemption.
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