Rate of Service Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2010
I want to know when service Tax levied & when rate of the service tax changes from starting?
CA. B.SRINIVASULU
(Expert)
05 January 2010
Service tax is attracted if the collected service amount exceeds rs.10 Lakhs in a financial year. In the initial year if you are not aware that it will exceed 10 Lakhs then from rs.10,00,001 you have to pay service tax. And next year onwards irrespective of the service exceeds 10 Lakhs or not you have to collect and pay tax from re.1
CA Tilak Raj Sharma
(Expert)
06 January 2010
Yes, above is absolutely correct.
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