Service tax liabilty
This query is : Resolved
22 January 2011
A service tax provider providing taxable service in his individual capacity. The threshold limit is Rs 10 LACS. He has obtained Registration after crossing limit of Rs 9 LACS. In the subsequent month his payment is crossing Rs 10 lacs by a marginal amount of Rs 10,000/- what will be taxable amount for this month payment . Is it on Rs 10,000/- or on total amount of this month payment or on the whole amount including exemption of Rs 10 lacs. The service provider has provided service in the current Financial year.
22 January 2011
Hi
Service Tax to be paid next to 10 Lakh.
because the threshold Limit is 10 lakh.
therefore the ST caluclated on Rs.10000/- at the rate of 10.3% ST.
if the ST is not collected on 10000/-
you need to do the reverse calculation & pay the st i.e ( 10000 X 100/110.3)
value is 9066
ST @ 10.3% is 934
total 10,000/-
Service Tax to be paid next to 10 Lakh.
because the threshold Limit is 10 lakh.
therefore the ST caluclated on Rs.10000/- at the rate of 10.3% ST.
if the ST is not collected on 10000/-
you need to do the reverse calculation & pay the st i.e ( 10000 X 100/110.3)
value is 9066
ST @ 10.3% is 934
total 10,000/-
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