How to determine the value of exemption limit of rs.10lakhs

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Dear All,

My company has total turnover of Approx 18lakhs. We have mostly foreign clients. so we are exempted from service tax under Export of Service Rules. However, on domestic clients we may have to pay service tax. ut income from domestic client doent exceeds 10lakhs. it is much less. Do i need to pay service tax.? Plz reply.its urgent.

 

Thanks in advance.

Replies (8)

As per my Knowledge when ur Company crosses the Turnover of Rs 9,00,000,then u have to get registered and when u cross 10lakhs u have to pay Service Tax.Currently if ur company is not crossing the limit then u are not liable to pay Service Tax. 

Thanks for replying.

 

We are registered in service tax. Our turnover is 18lakhs. But dat includes foreign clients on wich no ST is payable. i want to knw whether exemption limit includes or excludes export services & exempt services.

 If your turnover of taxable services goes above 9 lakhs in an accounting year with 30 days of applicablilityu have to get it registered.But Export services is not taxable services

 

Yes as per the new definition of 'aggregate value' under Notification No. 33/2012 dated June 20, 2012 only taxable services needs to be considered for threshold exemption benefit and it will not include exempted & export of service.

oh means we need not pay tax as our turnover frm domestic client dnt exceed ..good...thanx..ive jst paod Rs.2000 tax though..anyway..thanks to both of u..enlightenedsmiley

Yes the views shared are correct.

 

Dear Sir.

We run a printing press in mumbai. our main job is printing, binding, designing, etc.

Sometimes Design is provided by Party which we print on papers supplied by us.

( Paper, Ink, Plates, etc. provided by us) at the time of billing we mention - Printed Material (Item Descriptttion only)

Is service tax applicable on the same?

Also for job work - paper supplied by sub-agents we print as per there requirement....is service tax applicable above MVAT @ 5% ?

Our Turn Over is 25 Lakhs as per last financial year.

Is there any exemption on printing industry under service tax? if so under which rule?

your proper guidance will be highly appreciated.

Hi Garima...

 

Hope your company didnt cross the limit of  Rs 10. Lakhs taxable services in any preceeding years...

 

otherwise you cant enjoy the benifit of exemption...

 

Experts, Please correct me if I am wrong..

 

Best Regards,

CA Darshak Shah


CCI Pro

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