Exemption limit can be claim in subsequent year
This query is : Resolved
20 December 2011
Hi All,pls suggest on the following issue.
one of my client registered service tax registration on jan 2011 but his service tax turnover is 9 lakhs we filed nil return for that year but in the year of 2011-12 his service tax turnover is 20 lakhs can we pay service tax on 10 lakhs after claiming the exemption limit or on 20 lakhs.
one of my client registered service tax registration on jan 2011 but his service tax turnover is 9 lakhs we filed nil return for that year but in the year of 2011-12 his service tax turnover is 20 lakhs can we pay service tax on 10 lakhs after claiming the exemption limit or on 20 lakhs.
20 December 2011
1) previous year turnover did not exceeded the threshold limit of 10Lacs
2) service provider did not availed any input credit on inputs/ input services.
if above two facts are correct, then you are eligible to avail exemption of 1st 10Lacs in current year, and pay service tax on balance.
2) service provider did not availed any input credit on inputs/ input services.
if above two facts are correct, then you are eligible to avail exemption of 1st 10Lacs in current year, and pay service tax on balance.
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