Service tax query

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Jyoti (Querist)
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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

CA bhargava

CA bhargava (Expert)
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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

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Jyoti

Jyoti (Querist)
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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?

CA bhargava

CA bhargava (Expert)
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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

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Jyoti

Jyoti (Querist)
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29 January 2013 Thank u so much.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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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

CA bhargava

CA bhargava (Expert)
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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

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