Exemption limit for service tax
This query is : Resolved
04 October 2008
Sir
Acutually we have letout a property first time on monthly rent of Rs. 15.00 lac Per Annum from 1st Apr. 2008.
Now i have two queries namely:
1. What is the exemption limit we can get on that aforesaid amount, howerver we have already registered under service tax Act w.e.f. June, 2008.
2. on which amout we have to Collect/Deposit service tax.
3. is it mandatory to file nil return exemption of whole amout.
Acutually we have letout a property first time on monthly rent of Rs. 15.00 lac Per Annum from 1st Apr. 2008.
Now i have two queries namely:
1. What is the exemption limit we can get on that aforesaid amount, howerver we have already registered under service tax Act w.e.f. June, 2008.
2. on which amout we have to Collect/Deposit service tax.
3. is it mandatory to file nil return exemption of whole amout.
S.Srinivasaraghavan
(Expert)
05 October 2008
1. If the value of service in a year exceeds Rs 10 lakhs you are liable for Service tax.
2. On the monthly rental amount.
3.When you are not exempted how can you file NIL return?
2. On the monthly rental amount.
3.When you are not exempted how can you file NIL return?
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