Exemption in filing service tax return
This query is : Resolved
PANKAJ JAIN
(Querist)
24 April 2009
My service income is Rs.4 Lacs between April - September ' 08 and Rs. 4 lacs between Oct-Mar'09 aggregating to Rs. 8 lacs in financial year 2008-09 . Is it compulsory to file a " NIL RETURN" for April- September ' 08 & for Oct- Mar'09.
The exemption limit is Rs. 10 lacs.
What will happen if I do not file a " NIL RETURN" in the above case.
The exemption limit is Rs. 10 lacs.
What will happen if I do not file a " NIL RETURN" in the above case.
CA Gunjan H Shah
(Expert)
25 April 2009
File Return as soon as possible. Even if its NIL Return. Non-filing of return attracts penalty as well as late fees.
i dont knw the exact charge but
you can visit sites like servicetaxonline.com
i dont knw the exact charge but
you can visit sites like servicetaxonline.com
Shyam Lal Naik
(Expert)
25 April 2009
For the basic exemption 2 conditions are required to be fulfiled in the given case.
1. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2007-08, and
2. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2008-09.
It is assumed that you fulfill both the conditions.
Since you are holding a Service Tax Registration, you are required to file NIL return.
There will be no penalty, as no revenue is involved. How ever, late fine has to be paid(maximum Rs. 2000/- per return)
1. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2007-08, and
2. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2008-09.
It is assumed that you fulfill both the conditions.
Since you are holding a Service Tax Registration, you are required to file NIL return.
There will be no penalty, as no revenue is involved. How ever, late fine has to be paid(maximum Rs. 2000/- per return)
Manmohan ACA, CS
(Expert)
25 April 2009
Agreee with experts
25 April 2009
Agreee with experts
Rajesh Kumar
(Expert)
25 April 2009
Are you registered? If not, there is no need to file any return. If however, you are registered with service tax, you need to file return.
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