Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

tax exeption slab

Save Share

This query is : Resolved

shaikh irshad (Querist)

08 August 2010
The assessee runs the hotel. The main income is room sale and food and beverages. the ancillary income is boat cruising/laundry services/sight seeing/leasing of space for advertisement- which comes under service tax. all put together the service income does not cross 10 lakhs. is assessee liable for service tax?

if not, then is there any way to cancell the registration or file the nil return?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

08 August 2010 Even you register under the Service tax, since you are not crossed the basic threshold exemption Rs.10 lakhs you can claim exemption for the same, so my suggestion no need to cancel the registration you can file the return mentioning basic exemption claimed, because in future you my cross the turnover limit that time need to register, no need to cancel, file the Nil tax return

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