Limit of Service Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2010
Hi All,
I want to know thant what is the service limit, i mean to say that when we have to pay service tax.
Thanks
Yogesh
I want to know thant what is the service limit, i mean to say that when we have to pay service tax.
Thanks
Yogesh
CMA Ramesh Krishnan
(Expert)
14 September 2010
Service tax basic exemption limit is Rs. 10 Lakh, if your turnover exceed Rs. 9 lakh you need to register under service tax,
Service tax need to be start charge once your turnover is Rs.10 lakh or more in last financial year
Service tax need to be start charge once your turnover is Rs.10 lakh or more in last financial year
CA. Praveen Narayan
(Expert)
15 September 2010
1) If in the previous year
Turn over
exceeds
Rs. 10 Lakhs
In the current year
S.Tax to be charged from the beginning
2) If in the previous year
Turnover
Doesnt exceed
Rs. 10 Lakhs
S.Tax to be charged if turnover
exceeds Rs.10lakhs (on the exceeding amount)
1) If in the previous year
Turn over
exceeds
Rs. 10 Lakhs
In the current year
S.Tax to be charged from the beginning
2) If in the previous year
Turnover
Doesnt exceed
Rs. 10 Lakhs
S.Tax to be charged if turnover
exceeds Rs.10lakhs (on the exceeding amount)
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