Service tax
This query is : Resolved
08 March 2009
As I know that service tax
Below turnover Rs.9 lakhs is exempt
When turnover crosses Rs. 9 lakhs - Registration for service tax is compulsory.
When crosses Rs.10 Lakhs - assessee will be liable to service tax collection and payment.
first question is that if turnover is exact Rs.9 lakhs than Registration for service tax is compulsory?
second question is turnover crosses Rs.10 lakhs assesse is liable but from when he will start to collect service tax after receiving Rs.10 lakhs or from begining.If turnover of assessee is Rs 10 lakhs and Rs.2000 how much will he deposite the s tax?
Below turnover Rs.9 lakhs is exempt
When turnover crosses Rs. 9 lakhs - Registration for service tax is compulsory.
When crosses Rs.10 Lakhs - assessee will be liable to service tax collection and payment.
first question is that if turnover is exact Rs.9 lakhs than Registration for service tax is compulsory?
second question is turnover crosses Rs.10 lakhs assesse is liable but from when he will start to collect service tax after receiving Rs.10 lakhs or from begining.If turnover of assessee is Rs 10 lakhs and Rs.2000 how much will he deposite the s tax?
08 March 2009
1.Yes, the limit is 9 Lacs or more.
2.On the accretion of exempiton limnit of 10 lacs i.e 2000/- in that year.
2.On the accretion of exempiton limnit of 10 lacs i.e 2000/- in that year.
08 March 2009
I agree with the views of Mr. Nitin.
08 March 2009
But remember one thing, in case your turnover crossed 10 lakhs limit in FY 2008-09, then you will have to pay Service tax only on incresed turnover, but in next FY even if the TO is below 10 Lacs, you will have to pay Service tax on full amount. Please be carefull.
08 March 2009
Yes Sir Agreed with your answer.
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- ASMT-10 received from A O
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- IT returns for fresh job holders
- ITR-Capital Gain
- Reporting in TDS return
- Traces submitting correction statement error
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
