service tax applicability.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2010
We are a Pvt ltd co in IT field. Till now we were 100 % EOU & not needed any service tax registration.
As we have just now forayed into the domestic market, we got ourselves registered under Service Tax.
From next month our first billing will start. Now, we don't know whether in the first FY of our domestic operations will exceed Rs. 10 Lac.
Whether we should levy service tax from first bill itself or we should wait for the turnover to cross 10 Lac ?
As we have just now forayed into the domestic market, we got ourselves registered under Service Tax.
From next month our first billing will start. Now, we don't know whether in the first FY of our domestic operations will exceed Rs. 10 Lac.
Whether we should levy service tax from first bill itself or we should wait for the turnover to cross 10 Lac ?
mohinder kansal
(Expert)
30 July 2010
SERVICE TAX LIABILITY WILL BE LEVIED AFTER THRESHOLD LIMIT OF RS. 10 LACS IS EXCEEDED. NO SERVICE TAX IS PAYABLE UPTO TAXABLE TURNOVER OF RS. 10 LACS.
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