banner_ad

Service tax

Service Tax (Legacy) 924 views 4 replies

In The computation of service tax we charge service tax on the value on which service tax is payable...

But sometimes before applying rate we deduct exemption for small service providers i.e. 1000000 from the total value of service..!!

So can u tell me when to deduct n when not to deduct 1000000 from the total value of service...?

Waiting for the earliest reply plzzzzzzz

Thanking you smiley

Replies (4)

In case, value of taxable services of  previous year does not exceed Rs. 10Lacs, only then the assessee is entitled to avail exemption of Rs. 10 Lacs in current year......However, his exemption limit is not available in case of reverse charge mechanism.

Also find the attached file for example

Originally posted by : CA Sumit Grover

In case, value of taxable services of  previous year does not exceed Rs. 10Lacs, only then the assessee is entitled to avail exemption of Rs. 10 Lacs in current year......However, his exemption limit is not available in case of reverse charge mechanism.

Also find the attached file for example


Thank you sir..

 But can u tell me what is this reverse charge mechanism..??

Generally,service provider is liable to pay service tax for the services provided. However, the govt has notified some services in which the service receiver has to pay certain portion of service tax liability or the whole or service tax liability.......

 

 

Originally posted by : CA Sumit Grover

Generally,service provider is liable to pay service tax for the services provided. However, the govt has notified some services in which the service receiver has to pay certain portion of service tax liability or the whole or service tax liability.......

 

 


ohh oki Thank you sir :)


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details