There is an exemption for Small Businesses upto 10 Lakhs if previous year's turnover is less than 10lakhs as per notification 08/2008-ST.
In the ST3 return, under the column of 'Is any exemption claimed', should this be shown? There is no such notification in the dropdown list given but the field is accepting manually.
Also, do we have to give any letter about claiming such exemption to the department in advance during the start of the year?
Kindly assist.
CAclubindia
