Exemption in filing service tax return

Save Share

This query is : Resolved

PANKAJ JAIN (Querist)
Follow

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.

CA Gunjan H Shah

CA Gunjan H Shah (Expert)
Follow

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

Shyam Lal Naik

Shyam Lal Naik (Expert)
Follow

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)

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
Follow

25 April 2009 Agreee with experts

CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
Follow

25 April 2009 Agreee with experts

Rajesh Kumar

Rajesh Kumar (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now