Ser tax exemptionn limit
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2013
I want to know whether exemption of service tax payments upto 10 Lacs is applicableonly in the first year or this exemption is for each of the subsequent year also?
Let say I have a service income in the first year of 15 Lacs and in the second year 20 Lacs then whether I need to pay service tax on 15 Lacs and 20 Lacs or 5 lacs ( Excess over 10 Lacs) and 10 Lacs (excess over 10 Lacs)?
Let say I have a service income in the first year of 15 Lacs and in the second year 20 Lacs then whether I need to pay service tax on 15 Lacs and 20 Lacs or 5 lacs ( Excess over 10 Lacs) and 10 Lacs (excess over 10 Lacs)?
CA Vipin Jain
(Expert)
01 February 2013
5 lacs in first year and 20 lacs in 2nd year. No exemption in a year if exceeds 10 lacs in preceding previous year
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