Service Tax Exemption up to 10 lacs
This query is : Resolved
11 November 2010
Dear Sir
My client is providing a service of private security (Prop. Firm). In FY 2008-09 the turnover of his business was nearby 3 lacs, but in FY 2009-10 the turn over exceeds 13 lacs. In July 2009 he has registered his firm under Service Tax. But he didnt collect a service tax from some of his client & now he want to pay the same.
My question is If his sale is crossed the limit of 10 lacs, then he need to pay service tax on next 3 lacs or on total sale?
Please reply me.
Regards
Anil
My client is providing a service of private security (Prop. Firm). In FY 2008-09 the turnover of his business was nearby 3 lacs, but in FY 2009-10 the turn over exceeds 13 lacs. In July 2009 he has registered his firm under Service Tax. But he didnt collect a service tax from some of his client & now he want to pay the same.
My question is If his sale is crossed the limit of 10 lacs, then he need to pay service tax on next 3 lacs or on total sale?
Please reply me.
Regards
Anil
12 November 2010
Next 3 lacs.
Message likes :
1 times
12 November 2010
Service tax is payable on receipt basis. Assuming that 13 laksh recived.
On 3 laksh it would be considered as cum tax.
if rate is 10% then 3lx10/110.
For the delay 13% interest would be liable.
On 3 laksh it would be considered as cum tax.
if rate is 10% then 3lx10/110.
For the delay 13% interest would be liable.
Message likes :
1 times
12 November 2010
only on 3 lacs
Message likes :
1 times
12 November 2010
Yes, They have to pay service tax only on 3 Lacs, on Receipt basis, if they have not recd the payment, then they are not liable for service tax payment.
Message likes :
1 times
12 November 2010
You have said u have not collected ST from some of the clients and wants to pay ST for that. If u have collected ST from ur clients within exemption limit means u may have to pay ST collected from ur clients even within the exemption limit. Otherwise u may pay ST only after crossing the exemption limit of 10 lakhs.
Message likes :
1 times
12 November 2010
Hi
you need consiser after the exemption limit
therfre you shoud pay only on 3 lakh.
you need consiser after the exemption limit
therfre you shoud pay only on 3 lakh.
Message likes :
1 times
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
- Fixe term employment
- Is any professional CA is here please reply
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
