Tax audit report

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Sumiti Jain (Querist)
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12 October 2012 There is an tax audit of a small Pvt. Ltd. Company which has more than 12 lakh receipts of Consultancy services in the previous year, but the company has not applied for service tax no. and in the previous year audit has been done. In this year total receipt is only 8 lakh. should we mention this in our audit report regarding the non registration in Service Tax or just to see the exemption limit for current year of 9 lakh.....

CA Amit Rajput

CA Amit Rajput (Expert)
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12 October 2012 As matter is very serious as amount of service provide exceeds 10 lakhs required to registered them selves with thirty days from which gross service proceeds exceeds 10lakhs.
as you are not registered there is penalty provision in law and once you cross 10 lakhs than from the next year onwards single rupee of service attract service tax. and the same should be mentioned.

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