Service tax query
This query is : Resolved
28 January 2013
supose in one year a firm's turnover exceeds rs.10,00,000 So it is liable to get service tax registration bt if in next year if turnover doesnt exceed the said limit then also we have to pay service tax or nt
29 January 2013
if in current year the turnover is more than 10 lacs., tax has to be paid on 10 lacs above only., for next year ., he has to pay service tax from first rupee....
if in the next year ., the turnover is less than 10 lacs., he can claim SSI exemption for next year
if in the next year ., the turnover is less than 10 lacs., he can claim SSI exemption for next year
Message likes :
1 times
29 January 2013
Thank u so much sir bt would like to know whether total service tax paid through the year can be claimed?
Could u please guide me further about SSI exemption in sales tax,service tax,income tax in brief?
Could u please guide me further about SSI exemption in sales tax,service tax,income tax in brief?
29 January 2013
for Example for the financial year 2010-11: your turnover is 11 lacs., if it is your first year., where your turnover exceed 10 lacs., then tax on 1 lac., anf for FY 2011-12 you cant claim SSI exemption and if in that year your turnover is 9 lacs., you need to pay tax on total of 9 lacs., and for FY 2012 -13 you can claim the exepmtion of the SSI ., and need not pay tax until 10 lacs
Message likes :
1 times
29 January 2013
I don't think once you are registered in service tax and next year you can claim SSI exemption.
for CA Bhargava- please check your ans, if I am wrong please tell me
for CA Bhargava- please check your ans, if I am wrong please tell me
29 January 2013
CA Prashanth gupta., the provision is that ., the turnover in the previous year is 10 lacs., in that case even if your turnover is high initial years and then if it decreased in the last year., you can claim the exeption ., please refer the reckoner of any
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- ITR-4 vs ITR 5
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
