Service tax exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 July 2014
Hello,
I'm an independent Faculty consultant working for IIT Coaching Academy .My consultancy charges cross 10 lakhs rupees in the Current Year.
LY also i crossed limit of 10 Lakhs but did not registered.
So in the current year i need to pay ST from Re 1 or get the exemption of 10 lakhs. Please Clarify.
Also there would be any abatement on the above services as per notification 26/2012.
Please advise
I'm an independent Faculty consultant working for IIT Coaching Academy .My consultancy charges cross 10 lakhs rupees in the Current Year.
LY also i crossed limit of 10 Lakhs but did not registered.
So in the current year i need to pay ST from Re 1 or get the exemption of 10 lakhs. Please Clarify.
Also there would be any abatement on the above services as per notification 26/2012.
Please advise
18 July 2014
You should get registered in the service tax once you are crossing the limit of Rs.9 lakhs and start recovering and remitting to Govt.when you cross the limit of Rs.10 lakhs.
Hence for the current year you have to recover and pay service tax from Rs.1 as last year you exceeded limit of Rs.10 lakhs.
No abatement will be available to you as per notification.
Hence for the current year you have to recover and pay service tax from Rs.1 as last year you exceeded limit of Rs.10 lakhs.
No abatement will be available to you as per notification.
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