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Exemption limit

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 May 2012 Dear Sir,

We are a Company secretaries firm, and we are liable to pay service tax on receipt basis. till f.y. 2010-11 our gross receipt is less than 10 lac. hence we are not liable for service tax. but in f.y. 11-12 our reciept crossed 10 lac. and we become to liable to pay service tax. now my question is as follows;
1. we are receiving payment against those bill which are issued by us in previous year in which we are not liable to service tax and we have not charged service tax on bills.whether we are liable to pay service tax on those reciept also.
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
10 May 2012 No. You are not liable to pay service tax on the bills raised in the earlier years. Service tax is liable only on the bills raised during the year in which the liability has started.
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