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
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Plz Help
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 |
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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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