Small service provider exemption (ssp)
This query is : Resolved
18 October 2014
please explain the criteria.
if my taxable service in year 2012 is 8 lacs, in 2013 is 15 lacs, and again in year 2014 is 7 lacs.
my question is that in what is my tax liability in year 2014?
is ssp exemption is year to year basis.
actualy i am confusing this with SSI exemption in excise law.
please help
if my taxable service in year 2012 is 8 lacs, in 2013 is 15 lacs, and again in year 2014 is 7 lacs.
my question is that in what is my tax liability in year 2014?
is ssp exemption is year to year basis.
actualy i am confusing this with SSI exemption in excise law.
please help
18 October 2014
For the year 2014 you have to pay service tax on 7 lacs.
If in the previous financial year the aggregate value of taxable services provided by you was less than Rs.10 lakh and in the present FINANCIAL year the aggregate value of taxable services provided by you is also less than Rs.10 lakh. Then no need to pay service tax .
If in the previous FINANCIAL year aggregate value of taxable services provided was less than 10 lakh but this year aggregate value of taxable services provided is more than 10 lakh them you start paying service tax after crossing the threshold of Rs 10 lakh.
If in the previous FINANCIAL year aggregate value of taxable services provided was more than 10 lakh but this year aggregate value of taxable services provided is less than 10 lakh them you start paying service tax from rupee one.
If in the previous financial year the aggregate value of taxable services provided by you was less than Rs.10 lakh and in the present FINANCIAL year the aggregate value of taxable services provided by you is also less than Rs.10 lakh. Then no need to pay service tax .
If in the previous FINANCIAL year aggregate value of taxable services provided was less than 10 lakh but this year aggregate value of taxable services provided is more than 10 lakh them you start paying service tax after crossing the threshold of Rs 10 lakh.
If in the previous FINANCIAL year aggregate value of taxable services provided was more than 10 lakh but this year aggregate value of taxable services provided is less than 10 lakh them you start paying service tax from rupee one.
18 October 2014
MEANS IF ONE TIME U CROSS THE THRESHOLD LEVEL OF 10 LAC, THEN U R NO LONGER SSP.
U HAVE TO PAY TAX ON SINGLE RUPEE ALSO
U HAVE TO PAY TAX ON SINGLE RUPEE ALSO
18 October 2014
Yes your observation is correct.
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