Exemption from Servicetax

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M.M.SURANA

M.M.SURANA (Querist)

01 June 2010 Pl. clarify me
1. If service tax TO is 11 lacs & tax is not collected whether exemption to 10 lacs can be claim and on balance tax can be paid ?

2. Is it necessary to file half yly return for exempted Export turn over which is 15 lacs ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

04 June 2010
1.Rs.10 Lakhs thershold limit not for the current year turnover, if the turnover for the current year exceeds Rs.10 Lakhs we need to start charging service tax from the next forthcoming finacial year only

2.Person who is not liable to pay service tax due to exemption not required to file return

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

05 June 2010 Dear Surana,

Once you cross Rs.10 lakhs turnover previous year you cannt get threshold limit exemption from the current year the turnover fully taxable under service tax

Suppose your Turnover exceeds Rs,10 Lakh in the year 2009-10 - you need to charge service tax in the year 2010-11 turnover no need to charge ST on 2009-10

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