Taxable portion of service.
This query is : Resolved
Gopi Krishnan C Nair
(Querist)
23 April 2015
A service provider has a turnover of Rs. 12 lakhs during the financial year. He had not collected service tax on bill amount as he was not in the ambit of service tax last year. So what would be his taxable service? will basic exemption of 10 Lakhs be deductible from total service provided?
CA Anjana Grover
(Expert)
23 April 2015
Hi,
Yes, the basic exemption of Rs.10Lakhs would be deductible from total services provided.
The Service tax would on Rs.2 Lakhs only.
Yes, the basic exemption of Rs.10Lakhs would be deductible from total services provided.
The Service tax would on Rs.2 Lakhs only.
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