Plz Help

485 views 6 replies

I am a commission agent in textile industry. My earning is just going to be aboutRs. 10 lakh

Following are my queries:
1>If it is less than 10 do I need to take any action

2> If it crosses 10, than do i need to take any action

3>What are the steps that I need to remember in future for any action below 10 lakh or above it

Replies (6)

 

If your turnover crossed 9 lakh than first appy for Registration under service tax in ST-1 and you will recd ST-2 from central excise superintendent in seven days. Than start charging service tax after crossing 10Lakh limit on receipt basis.

Thanks Pankaj

So below Rs 10 Lakh I dont need to charge service tax......

Once I get Service Tax number do I need to charge service tax below Rs 10 lakh in future also

Originally posted by : D KUMAR

Thanks Pankaj

So below Rs 10 Lakh I dont need to charge service tax......

Once I get Service Tax number do I need to charge service tax below Rs 10 lakh in future also

not true,

if u do not take benefit of input credit then every year u can avail benefit of exemption of 10L

I am a layman on the subject.... and I am on a critical juncture. 

Your help is really appreciated.

Can you please tell what do you mean by input credit.

If you could provide me a link which has rules n regulations in concise manner. It would be of great help.

input credit means service used in business to providing output service or input service tax credit on capital goods......

https://cenexcisenagpur.nic.in/ServiceTax/faq.htm

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