registration of Service Tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2010 A civil contractor, is also giving some professional service to a developer of building and charges some amount as fees. Should he charge Service Tax on the bill he claims. From when service tax comes into effect i.e. after a claim of 10 lakhs or more per annum. What is the effect, if he does not claim for 2 or 3 lakhs bill.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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04 January 2010 Service tax exemption is for 10L. IF your turnover exceeds 7.50 Lakhs in 3 consecutive years then you required to register under service tax however you need to charge and pay service tax only if your turnover exceeds 10L.

SANJAY JAIN

SANJAY JAIN (Expert)
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04 January 2010 As per the provisions of Section 69(2), the person whose receipt from the taxable services (excluding exempted services) in the current financial year, exceeds 9 lakh, is required to take registration in the same financial year. Though up to the receipt of 10 lakh, he is not required to pay service tax but in the current year the total value of taxable services(including exempted services) exceeds 10 lakh, then in the next year he would be liable to pay tax on taxable service(excluding exempted service) from the first receipt.As no exemotion would be available.

In case he does not charge service tax on 2/3 lakh bills, the value released would be taken as inclusive service tax and by reverse calculation, the service tax would be deposited.

For further query, feel free to write sanjayinfbd@yahoo.com (M-09350048731) or visit, HNO. 2489/8,Faridabad(Haryana).

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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04 January 2010 agree with experts

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