Service tax on mutual fund agents.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2016
Mr. A is mutual fund agent. His turnover in FY 2015-16 is Rs 15 lacs. Now In current FY (01-04-2016 To 31-03-2017) whether he can avail SSP Exemption (33/2012) or he has to pay service tax without considering 10 Lacs??
CA S K MISHRA
(Expert)
17 July 2016
The benefit of exemption upto Rs.10 lakhs is available to a service provider in the 1st year only. From 2nd/subsequent years onwards Service tax is payable even if the turnover is less than Rs.10 lakhs.
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