Service tax registraton

This query is : Resolved

PANKAJ MISHRA (Querist)
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14 December 2012 Our firm is having income of building rent of Rs.1 lac per month. As per my knowledge service tax registration limit is RS.10 lacs for the financial year.
Please confirm this limit. And also confirm that when we take service tax registration after income exceeding 10 lacs whether previous amount attract service tax i.e. RS.1 to 10,00,000/- or not? or service tax payable only excess of Rs.10 lacs billing.

jay shah

jay shah (Expert)
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14 December 2012 Sir,
Present Service tax rules are as follows:
If your turnover exceeds Rs. 10 lacs in previous year then you need to pay s.tax on the turnover above Rs. 10 lacs.
On crossing Rs. 9000000 you need to obtain serv tax.
So in your case
s.tax will not be attracted on Rs. 10 lacs but will be attracted after that.
I hope it will suffies you.

CA. VIKAS GUPTA

CA. VIKAS GUPTA (Expert)
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14 December 2012 Hi,

Service tax will be charged in this year only on the value in excess of Rs.10Lacs. However, in next year, the same will be charged from starting

thnx

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