Service tax 10l limit confusion

Queries 325 views 5 replies

Hanky

Manager

29 Points Joined June 2016

I have a question about service tax limit.

Is 10L limit only on Indian revenue or it on India + Abroad?

E.g If earning is say overseas total revenue for a year is 1.10 crore from export of services (which is exempt from service tax) and income from Indian services is 8 Lakhs. So total revenue is 1.18 crore.

Do I need to pay service tax on 8L amount?

OR need to wait till turnover from India is more than 10L?

Replies (5)

Ameya

Student

230 Points Joined October 2015

The act has a saying that taxable turnover should exceed Rs.10 lakhs,since export of service is exempt the same shall not be counted to compute aggregate value of turnover...do confirm it from an expert..

Kuldipsinh Jadeja

Job

357 Points Joined April 2012

Agreed with Ameya. It is an exempted service and hence should not charge Service tax till taxable turnover exceeds Rs.10 lakhs.

CA. PREM NAILWAL

AUDITOR

39 Points Joined February 2011

registration after 9 lacs

IGNORE EXPORT SERVICES

CA shanky pahoja

accountant

615 Points Joined December 2015

service provided outside the country are not considered for service tax purpose. so tax will not be leviable on service provided outside india,

CA ABHAY GUPTA

Practice

3235 Points Joined August 2009

the aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed ten lakh rupees in the preceding financial year.

Meaning of aggregate value:

Explanation given in explanation- point B of notification no. 33/2012,

(B) “aggregate value” means the sum total of value of taxable services charged in the first consecutive invoices issued during a financial year but does not include value charged in invoices issued towards such services which are exempt from whole of service tax leviable thereon under section 66B of the said Finance Act under any other notification.”