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Regarding Payment of Service Tax

nageswararao (Mgr - Commercial) (142 Points)

21 February 2008

I am trader along with provide services also. Total my turnover (Sale+Services) is around 20Lakhs, services alone is 5-6Lakhs only. Here my doubt is shell I required to take service tax registration and shell I liable to pay service tax, pls clarify.

B.V.K.Nageswara Rao.

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5 Replies

O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 21 February 2008

trading is not covered in Service Tax.till you have service taxable sale of 8 lac ,There is no need for ser.tax No.

Hari Babu (CA Final) (57 Points)
Replied 22 February 2008

If your Turnover w.r.t. Services exceeds or reaches Rs. 700,000/= then u have to register under Service Tax.

OFFICESELVA (Service) (515 Points)
Replied 22 February 2008

As per rules, you have to take registration when the income from service activity reaches Rs.7 Lakhs and start paying tax if, the turnover crosses over Rs. 8 Lakhs.