Notification 33/2012 of service tax

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This query is : Resolved

GAURAV SHARMA (Querist)

06 January 2015 Respected Sir,
i am working with a service tax file of builder of residential complexes. in half of April to September firm received rs. 15,00,000/- for booking for first time, on which he paid st @ 3.09% without availing exemption under notification 33/2012. now firm received rs. 18,00,000/- for booking. exemption of notification 33/2012 is applicable for half of Oct. to march or firm is liable to pay st on 18,00,000/- please help me.

CA Hemant Bhathad

CA Hemant Bhathad (Expert)

06 January 2015 The option as to non-availment of such small scale exemption and opting to pay tax once exercised, cannot be withdrawn during the remaining part of such financial year.

So Firm is liable to pay at on 1800000/-

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GAURAV SHARMA

GAURAV SHARMA (Querist)

07 January 2015 is there any way to carry forward excess amount paid by firm or exemption will be applicable in next year ?

CA Hemant Bhathad

CA Hemant Bhathad (Expert)

07 January 2015 It is not amount to excess paid
Exemption will not be applicable in next year as exemption limit crossed in previous year

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GAURAV SHARMA

GAURAV SHARMA (Querist)

09 January 2015 someone told me to ask about revise return. may i revise to avail exemption.

CA Hemant Bhathad

CA Hemant Bhathad (Expert)

09 January 2015 As per Rule 7B of the service tax rule 1994, an assessee may file service tax revised return in triplicate in FORM-ST-3 to correct the mistake or ommission, within a period of 90 days from the date of SUBMISSION OF RETURN under rule 7

U can only revise the return within 90 days from date of submission.(Not from Due date)

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