Limit of rs.10 lacs would be over
This query is : Resolved
12 April 2012
DEAR SIR,
IF TOTAL AMOUNT OF SERVICE REBDERED IS GOING TO BE 10 LACS IN NEAR FUTURE.I WANT TO KNOW WHETHER I HAVE TO DEDUCT ST RIGHT FROM BEGAINNING? I HAVE ALREADY PAID REMITTANCE TO PARTIES.NOW HOW I CAN DEDUCT FROM THEM?
IF TOTAL AMOUNT OF SERVICE REBDERED IS GOING TO BE 10 LACS IN NEAR FUTURE.I WANT TO KNOW WHETHER I HAVE TO DEDUCT ST RIGHT FROM BEGAINNING? I HAVE ALREADY PAID REMITTANCE TO PARTIES.NOW HOW I CAN DEDUCT FROM THEM?
CA PRAVEEN SINGH
(Expert)
12 April 2012
I THINK YES.
IF YOU KNOW IN COMING PERIOD YOU WILL CROSS LIMIT OF 10 LACS.
IF YOU KNOW IN COMING PERIOD YOU WILL CROSS LIMIT OF 10 LACS.
prateek aanchalia
(Expert)
12 April 2012
In the very first year when limit cross 10 lac than you required to deduct ST on above Rs. 10 lac service proivde. but once 10 lac cross in a year than from the next year you required to pay serivce tax on full amount of service proivde means than after you not get the benefit of 10lac.
CA Nikhil Jhanwar
(Expert)
12 April 2012
It is not clear whether you are service provider or service receiver. Pls. specify. As you are saying that you have paid remittance it seems that it may be import of service. FOr information there is no concept of deduction in servic tax.
CA Nikhil Jhanwar
(Expert)
12 April 2012
It is not clear whether you are service provider or service receiver. Pls. specify. As you are saying that you have paid remittance it seems that it may be import of service. FOr information there is concept of deduction in servic tax.
CA Nikhil Jhanwar
(Expert)
12 April 2012
Because of some problem internet connection it was replied twice pls. consider my first reply stating that there is no concept of TDS in Service tax
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