Threshold Exemption
This query is : Resolved
13 April 2009
Value of services rendered in the year 08-09 was Rs. 10,50,000/-, then it is clear that I can not avail exemption in the year 09-10. Question is whether I have to pay service tax on Rs. 2,00,000/- (out of 10.5 lakhs mentioned above) received in the year 09-10 in relation to services rendered in the year 08-09.
CA.Hanumantha Reddy
(Expert)
13 April 2009
As per Notification No. 6/2005-S.T. (As amended by Notification Nos 4/207 nd 8/2008) Explanation B Upto Rs 10,00,000 is exempted from payment of service tax. In this regard, for the financial year 07-08, payments received on or after 01.04.2008 will be the starting point. So as you need not to pay service tax upto Rs. 10 Lakhs in the year 09-10.
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