service tax applicable
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
30 September 2008
Service tax is exempt if turnover is less then Rs. 10 Lacs.
For which year this 10 Lacs criterie is applicable? like Our Turn over for 2007-08 is Rs. 7 Lacs and till Apr-Sep, 08 Billing is rs. 15 Lacs. So is service tax applicable for this year?
For which year this 10 Lacs criterie is applicable? like Our Turn over for 2007-08 is Rs. 7 Lacs and till Apr-Sep, 08 Billing is rs. 15 Lacs. So is service tax applicable for this year?
S.Srinivasaraghavan
(Expert)
30 September 2008
Not applicable for 2007-08. Applicable for 2008-09.
CA V. Mohanakrishnan
(Expert)
30 September 2008
once the billing has crossed Rs.9 lacs duringthe current year the entity should register under the classification of service being provided within 30 days of having crossed the rs.9 lacs of billing.
which in your case is 2008-09
which in your case is 2008-09
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