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Plz calculate my payable service tax

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30 June 2015 Sir I m in commercial coaching my annual income or total fee collected from 1st April 2014 upto 31st March 2015 is 14,00,000/- plz calculate my payable ST and also plz tell me the calculation formula. Thanks HrishiUsha
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
30 June 2015 What about the services in fy-2013-14

Incase your services for the fy-2013-14 is exceeds Rs. 10 lakhs and current year you need to pay the service tax on Rs.14 lakhs so Rs.14 lakhs x 12.36%

Incase your services for the year 2013-14 is less than Rs.10 Lakh or no services then you can take basic exemption of Rs.10 lakhs for fy-14-15 and pay the service tax on (14 lakhs less 10 Lakhs) Rs.4 lakhs x 12.36%
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