There is a reverse charge mechanism is case of services provided by advocates to business entities whose Turnover is above Rs.10Lacs in preceeding F.Y. Does the word business enitity include all business of any sorts like trading, jobwork etc?
And 2ndly does it mean each client having a Turnover exceeding 10Lacs n receiving consulting service from advocate have to take a ST reg. No. n further comply with other procedures?
Yes. Your observations are correct.
thank u!
All the companies are required to pay service tax under reverse charge. Threshold exemption limit of Rs 10 lacs is not available for services taxable under reverse charge.
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