service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 December 2010
I am doing fabrication and installation work, but not registered in service tax.
Annual billing of installation goes about eight lac.Can I chagre service tax or not,
currently we are writting NA in the column tax on bill.please guide me
Annual billing of installation goes about eight lac.Can I chagre service tax or not,
currently we are writting NA in the column tax on bill.please guide me
08 December 2010
Small service providers are exempted from service Tax where value of taxable service does not exceed Rs. 10 Lakhs in the previous financial year
Small service providers are exempted from service Tax where value of taxable service does not exceed Rs. 10 Lakhs in the previous financial year
Message likes :
1 times
08 December 2010
As per the provisions of Finance Act, 1994 and Service Tax Rules made thereunder, if the total turnover of the assessee from all services is below Rs.900,000/- (Rupees Nine Lacs only), no liability arises on the service provider.
On crossing Rs.900,000/- it is essential for the service provider to register himself. Total billing to the extent of ten lacs is exempt from tax. On the turnover exceeding Rs.10,00,000/- service tax should be collected by the service provider.
Please note that collection of service tax without registration is a criminal offence. Further, if registered, any amount collected by a service provider should be deposited to the credit of the Government and necessary returns filed.
In the present circumstances, the action you are taking is perfectly acceptable.
On crossing Rs.900,000/- it is essential for the service provider to register himself. Total billing to the extent of ten lacs is exempt from tax. On the turnover exceeding Rs.10,00,000/- service tax should be collected by the service provider.
Please note that collection of service tax without registration is a criminal offence. Further, if registered, any amount collected by a service provider should be deposited to the credit of the Government and necessary returns filed.
In the present circumstances, the action you are taking is perfectly acceptable.
Message likes :
1 times
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
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Is Personal Guarantee of Director is Compulsory in case of loan to company ??
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Applicability of GST on deduction for cancellation of Pension policy
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
