Narendra Puvvadi (CA) (31 Points)
21 May 2013All you aware that, there is exemption to those service recepient whose taxable turn over is less than 10 Lakhs in the preceeding year, those are not laible to pay service tax under reverse charge mechanism on legal services received.
My question is, in the current year my taxable turnover is expected to exceed 10 Lakhs, in this case shall I pay service tax under reverse charges on legal services received in the current year or not.
Pls. help me.
Sanyam Jain
(Blogger)
(237 Points)
Replied 21 May 2013
NO you would not be liable to pay service tax under reverse charge mechanism since your turnover of the previous year did not exceed 10 lakhs.
Arun Kumar Singh
(GST Advocate)
(15188 Points)
Replied 22 May 2013
No exemption limit for paying service tax under reverse charge system. Any business entity located in taxable tarritory will pay service.
Sushma Mevacha
(Executive)
(394 Points)
Replied 23 May 2013
Nirav Worah
(CHARTERED ACCOUNTANT)
(396 Points)
Replied 24 May 2013
basavaraj.k
(Accountant)
(65 Points)
Replied 16 December 2013
Senu Reddy
(ca final)
(291 Points)
Replied 25 December 2013
Yes , you can avail cenvat credit
The below 18 services are eligible for input tax credit
1) Repairs and maintainence
2) Advertisement/ sales promotion
3) Legal charges
4) Accounting
5) Auditing
6) Inward Transportation
7) Out ward transportation (upto place of removal)
8) Business exhibition
9) Security services
10) Shares Registry
11) Credit Rating
12) Computer Networking
13) Coaching & Training
14) Recruitment and Quality Controll
15) Market reasearch
16) Storage upto place of removal
17) Procurement of Inputs
18) Financing services
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
