12 October 2012
As per Notification No. 25/2012-Service Tax, a business entity with a turnover abovee rupees ten lakh in the preceding financial year; have to pay service tax on reverse charge system.
12 October 2012
In case of reverse charge the benefit of Rs. 10 lakhs exemption is not allowed. In case of reverse charge even the billing of Rs. 100 liable for Service tax.
This provisions are applicable before coming negitive list. So thereafter there is no change in above said provisions.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
12 October 2012
please read my query with following amendment:-
12 October 2012
As turnover has not been defined , considereing the legislature intent to exempt service tax on such services provided to SME/s it appears that it means the total turnover of that business entity and not only taxable service turnover.
CAclubindia
