Small service provider
This query is : Resolved
11 March 2008
Small service provider - annual exemption limit increased from Rs. 8 lacs to Rs. 10 lacs with effect from 1st April 2008
A long-time registered service tax assessee received the following payment during financial year 2007-8 :-
Amount excluding service tax and cess : Rs. 6.50 lacs
Amount of service tax and cess : Rs. 0.80 lacs
Amount including service tax and cess : Rs. 7.30 lacs
Upto what turnover level (excluding service tax and cess) during financial year 2007-8, would it allow the Rs. 10 lacs exemption to be availed in financial year 2008-9?
A long-time registered service tax assessee received the following payment during financial year 2007-8 :-
Amount excluding service tax and cess : Rs. 6.50 lacs
Amount of service tax and cess : Rs. 0.80 lacs
Amount including service tax and cess : Rs. 7.30 lacs
Upto what turnover level (excluding service tax and cess) during financial year 2007-8, would it allow the Rs. 10 lacs exemption to be availed in financial year 2008-9?
11 March 2008
YES
11 March 2008
The exemption is on the taxable amount ( excluding Service Tax)
IF the annual turnover for the financial year is below or equivalent to 10 Lacs the exemption can be exercised
In the instance case if the turnover is 6.50 lacs the exemption of 10 lacs can be enjoyed for the year 2008-09
IF the annual turnover for the financial year is below or equivalent to 10 Lacs the exemption can be exercised
In the instance case if the turnover is 6.50 lacs the exemption of 10 lacs can be enjoyed for the year 2008-09
11 March 2008
I am treating the inquiry as closed.
Should you need any further inputs do let me know
Should you need any further inputs do let me know
11 March 2008
but if you have received something as service tax then it is payable to Service tax department
11 March 2008
Dear Mr. Dayal :
Thank you very much for your reply.
I just need clarity on one part of my query, i.e., what should be the maximum turnover (excluding service tax & cess) during 2007-8? If such turnover is more than Rs. 8 lacs for 2007-8, can the exemption still be availed in 2008-9?
The figures given in my query pertained to receipt of payments in 2007-8.
Hope I have been able to express myself.
Regards,
Thank you very much for your reply.
I just need clarity on one part of my query, i.e., what should be the maximum turnover (excluding service tax & cess) during 2007-8? If such turnover is more than Rs. 8 lacs for 2007-8, can the exemption still be availed in 2008-9?
The figures given in my query pertained to receipt of payments in 2007-8.
Hope I have been able to express myself.
Regards,
12 March 2008
IN F.Y.2007-08 TURNOVER SHOULD NOT BE MORE THAN 10 LAKHS TO AVAIL EXEMPTION IN 2008-09
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