Since from FY 07-08 the limit of exemption for small sevice provider is 8 lacks then if service turnover is exceeds to 10 lakhs then sevice tax would be applicable for whole 10 lakhs or additional 2 lakhs only?
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Exemption limit for service tax
Replies (49)
on additional 2 lakh only.
service tax is exempt upto 8 lacks in the last 12 months period and not the previous years or if our estimated turnover on newly started business is more than 8 lacks we have to get retistrations by applying in form no.ST-1
but the service tax people are insisting on the payment of service tax on whole 8 lacks before registration
but the service tax people are insisting on the payment of service tax on whole 8 lacks before registration
it will be only on receipt exceeding 8 lakh
it ll be on the additional receipt of 2 lakhs only
in the f y 07-08 if your receipt is in excess of rs
8 lk then you are liable to service tax and your services are including of service tax if you are not charged seperatly service tax
but in the following year your tax liability is from first rs.eight lakhs exemption is not available to you to the subsequent year
It is to be charged on 2 Lakh
on 2 lakhs
Can I have the section for exemption limit for service tax? Another issue is, the rent for the Financial Year 2007-08 as per the agreement is Rs. 18 lakhs. The agreement is entered during the month of June 07 in the name of Mr. X. Mr. X died on August 07 and the rent is received by his son Mr. Y thereafter. Should Mr. Y include in his taxable service the amount received by Mr. X also for charging service tax? Please reply
Can I have the section for exemption limit for service tax? Another issue is, the rent for the Financial Year 2007-08 as per the agreement is Rs. 18 lakhs. The agreement is entered during the month of June 07 in the name of Mr. X. Mr. X died on August 07 and the rent is received by his son Mr. Y thereafter. Should Mr. Y include in his taxable service the amount received by Mr. X also for charging service tax? Please reply
Can I have the section for exemption limit for service tax? Another issue is, the rent for the Financial Year 2007-08 as per the agreement is Rs. 18 lakhs. The agreement is entered during the month of June 07 in the name of Mr. X. Mr. X died on August 07 and the rent is received by his son Mr. Y thereafter. Should Mr. Y include in his taxable service the amount received by Mr. X also for charging service tax? Please reply
Dear Sir,
I want to know that if I want to deposit service tax on rent income.
what I filled service tax code in TR-6 challan.
thks./regds.
Sachin
Service tax on rent exemption limit of Rs. 10 lacs wheather it's on the collection of rent during the financial year or on the total income of Rs. 10 lacs (Total income = Business income + rental income).
Rental income only. I assumed that you have not received any income (big or small) by rendering any other taxable service.
Is there any exclusion for basic exemption limit like DSA of BANKs Finaancial Companies (NBFC)
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