HI all,
My company got an advertising tender from the govt of Rs.750000. We subcontracted that work to other advertising agencies for Rs.675000. My query is that what is my company's service tax implication??? What amount do i need to pay as service tax and what amount of credit can i get??
if your company registered with service tax department then charged service tax from govt and if sub contractee charged your company service tax then claim the same as cenvat and pay the balance amount to govt (Service Tax Department)
Thanx Harpreet. I need to know one more thing. actually my first bill was of 325000. next bill was of 750000. aggregate amount crosses the 10 lakh limit. now i will get my company regd under service tax. but what about the two earlier bills??? Whats their tax implications??
agreggate of 10 lacs will get exempted and only above 10 lacs u will be liable to pay tax. ( without input credit of service tax)
CAclubindia
