Service tax exemption
Querist : Anonymous
I need your clarification on the following:
(1)I am a wedding planner, in the last financial year my turnover was 10 lacs and I didnt paid any service tax due to exemption now in this financial year too my turnover is 10 lacs do i have to pay service tax now.
Is there any limit of number of times that the exemption of 10lacs can be availed.is this a one time exemption or can be availed any number of times.
(2)I am a wedding planner and in Augest,2011 I received an advance from my client.I generated my first invoice in the Dec,2011.my turnover is 15 lacs which included service of Florist amounting to Rs.5lacs which is an exempt service.do i have to pay any service tax and do i have to file any return and what is the last date of return and what is the penalty that is applicable due to non filing of return. Mine is a partnership firm and this is my first year.
please provide the answers asap treating them (1 & 2) independently.
Thanks in advance
Querist : Anonymous
Looking forward for your response on the above
Two conditions are required to be fulfilled.
1. Taxable Turnover does not exceed Rs. 10.00 Lakh during the previous year. Please note that it is TAXABLE TURNOVER and not total turnover.
2. If the condition 1 is met, TAXABLE TURNOVER of Rs. 10.00 Lakh is exempt.
The exemption is available for any number of years if both the conditions are met.
I presume, the above answer addresses your query no. 2.
Click here to login now
Similar Resolved Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR returnFY25-26
- BIS Certificates
- Itr 1 processing
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
