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
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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.
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