Service tax query

This query is : Resolved

Ali Asgar (Querist)

23 April 2014 i want to ask some queries which are as follows:

whether service tax should be payable on whole amount if taxable service is exceeded threshold limit i.e 10 lakhs. if not please give me the relevant notification no.

whether this threshold limit of rs. 10 lakhs is applicable in following years or could be available only once. please also give me notification no. of this clause also.

KUMAR trp707@gmail.com

KUMAR trp707@gmail.com (Expert)

23 April 2014 NT No 033/2013-st
Yes once cross basic limit in a financial year, can pay S Tax after Rs 10 lacs and next financial year can start pay STax from 1 Rs value

Janak

Janak (Expert)

07 May 2014 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Finance Act), and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification No. 6/2005-Service Tax, dated the 1st March, 2005, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. number 140(E), dated the 1st March, 2005, except as respects things done or omitted to be done before such supersession, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services of aggregate value not exceeding ten lakh rupees in any financial year from the whole of the service tax leviable thereon under section 66B of the said Finance Act:

If service amount exceed Rs.10 Lac, Service tax is to be charged on the amount excedding Rs.10 Lacs for such financial year.

From Next Financial year service tax is to be charged from Rs.1.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now