filing nil return

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Anil Khatri (Querist)

05 March 2008 A assessee has a service tax registration no & files the service tax returns in last year but in current year his gross receipt is less 10 lac rs. WHETHER HE CAN FILE THE NIL RETURN ? AND IS IT COMPULSORY FOR HIM TO FILE THE NIL RETURN ?

CA Praveen Chopra

CA Praveen Chopra (Expert)

05 March 2008 First of all, taxability during the current year depends on gross receipt of the last year & not on the receipts of the current year.Secondly assessee will have to file 'nil'return as long as registration certificate is valid even if there is no business at all during the relevant period.

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)

05 March 2008 THA ASSESSEE IS LIABLE TO FILE THE RETURN WHERE HIS GROSS RECEIPT EXCEEDS IN THE PRECEDING YEAR AND NOT IN CURRENT YEAR.IF NOT TO FILE THE NIL RETURN THAN HAVE TO SURRENDER THE CERTIFICATE OTHERWISE HAVE TO FILE THE RETURN EVEN IF NO BUSINESS

R.V.RAO

R.V.RAO (Expert)

05 March 2008 THE REVISED LIMIT OF SERVICE TAX EXEMPTION OF RS. 10 LAKHS IS APPLICABLE FROM APRIL 2008 TO MARCH 2009.
RETURNS UNDER SERVICE TAX CANNOT BE DISCONTINUED.YOU NEED TO FILE NIL RETURNS.
PRIOR INTIMATION TO YOUR SERVICE TAX ASSESSING OFFICER NEEDED TO DISCONTINUE FILING OF HALF YEARLY RETURNS UNDER SERV. TAX.
R.V.RAO

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