Service tax

Queries 643 views 3 replies

rajesh jain

profession

66 Points Joined January 2009

Dear Members Good Morning,

The Facts are as below:

1.I have a service tax registration number .

2.That My Gross Value of Taxable Service Tax during the peirod of Apr.2011 to Sept.2011 is less than Rs. 10.00 lakh, and also proor to that period.

3. Can I claim Exemption on the basis of gross Value of which is Less than Rs. 10.00 lakh during current fiancial year and to that of any prceeding financial year.

4. Should I have to pay tax or claim exemption from paying tax even though Gross Receipt is below Rs.10.00 lakh.

5. If so Please guide me how to claim exemption with notification no.

Thanks in advance.

Sincerely yours.

Raajesh Jain, Kondagaon, Chattisgarh.

Cell.9425243988,9993050409

email. rj68 @ in.com, muriya_madiya @ yahoo.co.in

Replies (3)

CA Unnikrishnan Nair N

Chartered Accountant

2083 Points Joined February 2011

Basic exemption of Rs.10L is available if you are not using trade mark belonging to others. Exemption is subject to the condition that aggregate value opf service of preceding year is less than Rs.10L.

CA Prabhat Gupta

Manager (Indirect Taxes)

821 Points Joined January 2011

As per the details provided by you, you seem to be eligible for exemption, but where you have charged Service Tax in your invoices, you will be required to deposit the same with the department.

For your reference, Notification number 6/2005-st has been attached below. The limit of Rs.4 lacs had been revised and vide Notification No.8/2008 dated 01.03.2008, it has been increased to Rs.10 lacs. Hence wherever Rs.4 lacs occurs, it should be read as Rs.10 lacs in the notification below.

CS RAJESH C.CHOUDHARY

ASSISTANT MANAGER

14607 Points Joined July 2011

2. If value of taxable service exceeds Rs. 10 lakhs, ST has to be collected and paid in financial year 2011-12 on the excess above Rs. 10 lakhs.3. Exemption for Rs. 10 lakhs can be claimed in current financial year.4. No need to pay tax ,can claim threshold exemption.5. Notification 6/2005 as amended by 8/2008 may be referred to.