Exemption limit
This query is : Resolved
05 September 2013
Dear Sir,
I am running a beauty treatment services unit, have made total taxable services for the yr.2010-11 year Rs.12, 00, 000/- & Rs 14, 00, 000/- pertaing to the yr.2011-12 & Rs.8, 00, 000/-for the yr.2013-14.I would like to know whether the exemption threshold limit can be claimed for all 3years,& tax have to be paid only remaining amount...
Ajay Mishra
(Expert)
06 September 2013
Hi
It will be “aggregate value not exceeding *ten lakh rupees means the sum total of first consecutive payments received during a financial year towards the gross amount, as prescribed under section 67 of the said Finance Act, charged by the service provider towards taxable services till the aggregate amount of such payments is equal to ten lakh rupees but does not include payments received towards such gross amount which are exempt from whole of service tax leviable thereon under section 66 of the said Finance Act under any other notification.
It will be “aggregate value not exceeding *ten lakh rupees means the sum total of first consecutive payments received during a financial year towards the gross amount, as prescribed under section 67 of the said Finance Act, charged by the service provider towards taxable services till the aggregate amount of such payments is equal to ten lakh rupees but does not include payments received towards such gross amount which are exempt from whole of service tax leviable thereon under section 66 of the said Finance Act under any other notification.
CA Suresh Jain
(Expert)
06 September 2013
For the year 2010-11 the exemption upto Rs. 10 lakh shall be available provided the aggregate value of taxable service in the previous year i.e. F.Y. 2009-2010 has not exceeded Rs. 10 lakh.
2. for the F.Y. 2011-12 and 2012-2013 you are not eligible for any exemption
3. For 2013-14 you are eligible for an exemption upto Rs. 10 Lakh
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case
2. for the F.Y. 2011-12 and 2012-2013 you are not eligible for any exemption
3. For 2013-14 you are eligible for an exemption upto Rs. 10 Lakh
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case
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