06 May 2008
Is the basic exemption limit of Rs 10.00 lakhs applicable each year? ( like IT) Or liability to service tax arises as soon as limit of 10.00 lakhs is exceeded in each year ? Suppose an assessee has 5 lakhs,7lakhs,10 lakhs as billed services during last 3 yrs how the service tax provisions would apply
However, you should register with the service tax commissioniate if there is an assumption that the services rendered by one for a particular year is going to cross 10 lakhs.
As far as i remember , you should do so within 10 days as the amount of services rendered crosses 10 lakhs.
07 May 2008
Further to supplement the above, the limit of 10 lakhs will aplly in respect of all services rendered by service provided during a particular financial year. ST liability arised, only in case where aggregate of value of services rendered exceeds Rs. 10 lakhs. Registration requirement starts from Rs. 9 lakhs
14 May 2008
Exemption is available to every year subject to condition that if you fulfilment of Notification 6/2005-ST (As per Noti 8/2008-ST exemption limit is 10 lakhs Rs.).
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