Payment of service tax if does'nt croses 50 lac
This query is : Resolved
16 April 2012
Dear Freinds,
If the annual turnover of the firm doesn't cross 50 lacs then the service tax can be paid aster receipt of the bill amount or we have to pay as per bills raised only irrespective of crossing 50 lacs per annum please confirm.
Thansk & Regards,
D S N Raju
If the annual turnover of the firm doesn't cross 50 lacs then the service tax can be paid aster receipt of the bill amount or we have to pay as per bills raised only irrespective of crossing 50 lacs per annum please confirm.
Thansk & Regards,
D S N Raju
16 April 2012
If the aggregate value is Rs. 50 lakhs or less in previous financial year , the service provider may pay tax on receipt basis upto Rs.50 lakhs taxable value. Beyond Rs.50 lakhs, service tax will have to be paid on the mercantile basis on the basis of issue of invoice. For details please refer notification 3/2012 dated 17/3/2012.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Fixe term employment
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
