Threshold limit of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2014
w are a proprietor firm offering services with valid service tax registration.
Though our total service income for the last year (FY 2012-13) is Rs 9 lakhs and lless than the threshold limit, since we collected service tax, we have paid it and submitted the returns. However, this year (FY 2013-14) our total service income is expected to be again about Rs 9 lakhs, and we have as such NOT collected any amount as service tax from our clients.
Are we liable to pay service tax for the FY 2013-14?
Though our total service income for the last year (FY 2012-13) is Rs 9 lakhs and lless than the threshold limit, since we collected service tax, we have paid it and submitted the returns. However, this year (FY 2013-14) our total service income is expected to be again about Rs 9 lakhs, and we have as such NOT collected any amount as service tax from our clients.
Are we liable to pay service tax for the FY 2013-14?
06 February 2014
No, since didn't cross the threshold in FY 2012-13.
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