Hello,
If a concern cross the limit of 10 lakh for a year due to a special contract, and in the next year, its receipt will be less than 10 lakh, Then should the concern pay the service tax for the whole amount of receipt of the second year OR there is any way by which it can claim again SSI Exemption by giving details of last year special contract ??
Please tell me.
Exemption is available only if the taxable services provided during the previous year does not exceed 10 lacs. so following are the complainces required:
1. service tax registration is compulsory in the first year when the aggregate value of taxable services exceeds 9 lacs. application for registration to be made within 30 days.
2.in the second year service tax is applicable.
Shyam Joshi & Associates
Pune
B.Com
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