Is service tax excempted for it services

We are a private limited software company established in the year 2009 with two directors. We had a initial service capital as 5Lakhs. Even though we registered the company in 2009, we actually started operations as we got income in 2014. From 2014, we have been billing to the clients for the IT services given with ServiceTax(12.36 or 14%) according to the dates. But so far the billing has not exceeded 30Lakhs. I heard there will be some exception given to the small companies like us. Are we eligible for this?