Meaning of turnover
This query is : Resolved
22 February 2014
Dear All,
In case legal service provided by advocate or firm of advocate to business entity, business entity have to pay service tax in reverse charge id his turnover in preceding financual yera is above Rs-10 Lac.
My question is what is meaning of turnover in this case.
Plz explain with source.
In case legal service provided by advocate or firm of advocate to business entity, business entity have to pay service tax in reverse charge id his turnover in preceding financual yera is above Rs-10 Lac.
My question is what is meaning of turnover in this case.
Plz explain with source.
Nikhil Kaushik
(Expert)
22 February 2014
in case of reverse charge mechanism, the service receiver needs to pay service tax even if the turnover is less than Rs 10 lakhs.
with regards to meaning of turnover in case of services, it means "aggregate value of taxable service/services"
with regards to meaning of turnover in case of services, it means "aggregate value of taxable service/services"
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