Meaning of turnover for calculating intt on service tax
Querist : Anonymous
the turnover referred in notification 14/2011 date 1/4/2011 for intt on late pymt of service tax @ 15 % if turnover is less than 60 lac & 18 % if turnover is more than 60 lacs.
My query is turnover consists of what?
if an assessee reced rent on which service tax levied & have some trading income on which service tax is not applicable. so we have to consider only rental income for the purpose of calculating turnover?
plzzz reply....
thanks.....to all...
Ref - 2nd proviso to section 73B.
Querist : Anonymous
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