03 September 2011
One time Service Tax exemption is allowed to10 lacs in a financial year amount in addition to10 lacs is taxable. From next financial year entire amount is taxable.
Earlier amount of exemption was4 lacs, later it was increase to8 lacs and now 10 lacs at present by amendment in said notification. This notification is available at their web site www.cbec.gov.in
refer notification No. 8/2008-Service Tax
Service Tax is on aggregate value of taxable services rendered
one should register within 30 days of commencement of business.
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