Service tax exemption
This query is : Resolved
31 December 2008
Dear all
Please explain
2007-08 SERVICE ASSESSABLE VALUE (Billed amt) = 1000000
2008-09 SERVICE ASSESSABLE VALUE (Billed amt) = 1200000
HOW TO CALCULATE SERVICE TAX IN 2007-08 & 2008-09 IF EXEMPTION LIMIT IN 2007-08 = 800000 IN 2008-09 = 1000000
Please explain
2007-08 SERVICE ASSESSABLE VALUE (Billed amt) = 1000000
2008-09 SERVICE ASSESSABLE VALUE (Billed amt) = 1200000
HOW TO CALCULATE SERVICE TAX IN 2007-08 & 2008-09 IF EXEMPTION LIMIT IN 2007-08 = 800000 IN 2008-09 = 1000000
31 December 2008
Assessable value,in your question, means amount received.
But exemption limit is determined on the basis of amount billed.
But exemption limit is determined on the basis of amount billed.
31 December 2008
I correct my answer as follows:-
2007-08-Invoice amount in excess of threshold limit is Rs.200000/- You have to calculate tax on the amount received against that Rs.200000/-
2008-09-Cannot enjoy threshold limit.Amount received against that Rs1200000/-is fully taxable.
Mistake in my earlier answer is regretted.
2007-08-Invoice amount in excess of threshold limit is Rs.200000/- You have to calculate tax on the amount received against that Rs.200000/-
2008-09-Cannot enjoy threshold limit.Amount received against that Rs1200000/-is fully taxable.
Mistake in my earlier answer is regretted.
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- STCG FOR GOLD ETFs
- STCG on ETF gold & silver
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- REGARDING GST LIABILITY/....
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
