Limit of service tax

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Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 What is Limit of Service Tax in Pvt.Ltd.Co. ? or Limited Co.?

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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31 July 2012 For Registration : INR 9 Lacs

For Tax Payment: INR 10 Lacs

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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31 July 2012 If your turnover in last year was below 10 lacs, then the turnover of current year will be exempt upto 10 Lacs.
This is what known as small Service Provider.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 If the Co.is pvt.ltd. OR ltd. both will be exempt upto 10 lacs.??

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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31 July 2012 There is no distinction between Pvt co and Public Co w.r.t Service Tax exemption.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 I understood the for tax Payment INR 10 Lacs.

But

What is for Registration of INR 9 Lacs..?

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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31 July 2012 If the turnover has exceeded INR 9 Lacs, then you are required to get registered even if the turnover doesn't exceeds 10 Lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 Ok Thanx...Sir.!!!!!!

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 Ok Thanx...Sir.!!!!!!

RENGARAJ R.K

RENGARAJ R.K (Expert)
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31 July 2012 Please note that under reverse charge mechanism, GTA, Advocate fees, Manpower supply, the exemption is not available if you are a private limited or public limited. As a service receiver, you have to apply for RC and to pay. Therefore dont wait upto 9 lacs if you fall under reverse charge mechanism as one of the service receiver in 10 notified services.

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CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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31 July 2012 Agreed with the reply of Mr. Rengaraj regarding Reverse Charge Mechanism.

If reverse charge is not applicable to you, then only you have to consider the limit of INR 9Lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 Our Co.is pvt.ltd.and we have new plant in Pune, chakan only 4 lacs approx turnover.

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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31 July 2012 Based on above amt, if reverse charge is not applicable, then no need for registration.

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