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Service tax

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student
43 Points Posted on 23 September 2016

I am planning to start a new business and willing to take Service Tax number from the starting itself.

Is it mandatory for me since I have a ST number to charge tax from day 1 or will I still be allowed threshold limit of Rs 10 lakh before I should charge tax..

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On 23 September 2016 at 14:35 Report
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Freelancer-Chartered Accountant
551 Points Posted on 23 September 2016
firstly we need to register for service tax only when our sales crosses 9lakhs and then start charging service tax when sales crosses 10 lakhs.
now if u want to take service tax number from beginning only...thn you will have to start charging service tax too and file service tax returns semi annually
6 Reply
On 23 September 2016 at 14:48
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Freelancer-Chartered Accountant
551 Points Posted on 23 September 2016
sorry for the above answer....u just need to file nil returns ..
no charging service tax
6 Reply
On 23 September 2016 at 14:50
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student
43 Points Posted on 23 September 2016

So I can skip charging the tax till the day my turnover reaches 10 lakhs right..

Filing of return is a separate issue, i need clarification on charging of tax,

 

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On 23 September 2016 at 15:06
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Freelancer-Chartered Accountant
551 Points Posted on 23 September 2016
yes....u can skip charging service tax till your sales reaches 10laks
6 Reply
On 23 September 2016 at 15:10
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student
43 Points Posted on 23 September 2016
Thank you Kajal :)
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On 23 September 2016 at 15:13
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Freelancer-Chartered Accountant
551 Points Posted on 23 September 2016
welcome latika 😃
and all the best
6 Reply
On 23 September 2016 at 15:15


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