Service tax
This query is : Resolved
Praveen Sharma
(Querist)
10 December 2012
We have a LLP which is into the coaching business. We have received a payment of Rs. 16lakhs from one of our client school. The payment we received was after the TDS deduction. We dont have a service tax number with us right now. My question is do we have to pay any service tax on the said amount? What if we fail to pay this tax?
Is there any way to save this tax?
Is there any way to save this tax?
CA bhargava
(Expert)
10 December 2012
As you have already deducted the TDS and the amount receivable by you is clearly on records., so there is no save to say that your receipts are less than 10 lacs., you will be liable to service tax for the amount exceeding 10lacs in the first year., else on total of 16 lacs., you should register under service tax.and get ST no.
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