Private co & service tax liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 April 2012
when does liability arise for the service tax payment when co is a priavate lid co?
29 April 2012
Firstly,the Asessee should be liable to get registered and that arises in an year where the gross receipts exceeds 9lacs.
From the next F.Y the assessee should collect s.tax component from the very first day.The liability actually arises on the total of receipts where the gross receipts exceeds 10 lacs in the F.Y.So to be on the safer side,the company should collect it from every receipt,so that if later the limit of 10 lacs exceed,it wont have to pay fro its own pocket!
From the next F.Y the assessee should collect s.tax component from the very first day.The liability actually arises on the total of receipts where the gross receipts exceeds 10 lacs in the F.Y.So to be on the safer side,the company should collect it from every receipt,so that if later the limit of 10 lacs exceed,it wont have to pay fro its own pocket!
29 April 2012
According to me, when receipts exceeds 10 lakhs, service tax is to be paid only on amount exceeding rs 10 lakhs and not from the first rupee
however in previous year if receipts exceeded Rs 10 lkhas then in current year you have to pay service tax from first recipt.
Since it is company, it has to make monthly payment of service tax on 5th/6th (in case of online payment) of the next month.
however in previous year if receipts exceeded Rs 10 lkhas then in current year you have to pay service tax from first recipt.
Since it is company, it has to make monthly payment of service tax on 5th/6th (in case of online payment) of the next month.
29 April 2012
According to me, when receipts exceeds 10 lakhs, service tax is to be paid only on amount exceeding rs 10 lakhs and not from the first rupee
however in previous year if receipts exceeded Rs 10 lkhas then in current year you have to pay service tax from first recipt.
Since it is company, it has to make monthly payment of service tax on 5th/6th (in case of online payment) of the next month.
however in previous year if receipts exceeded Rs 10 lkhas then in current year you have to pay service tax from first recipt.
Since it is company, it has to make monthly payment of service tax on 5th/6th (in case of online payment) of the next month.
06 May 2012
Yes I agree with the experts
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
