Meaning of turnover for calculating intt on service tax

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Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2013 Dear All ,
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...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 December 2013 Value of 'taxable services' alone may be counted meaning thereby,in the cited issue, consider the rent only.
Ref - 2nd proviso to section 73B.

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2013 thankew sir......

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