I am a mgmt. consultant since last 10 years . Til 15-16 my turnover was always within service tax exemption limit for small service provider.
ie below 10 lac for 15-16 . However in 16-17 it is likely to cross 10 lac in Jan.17 . Every where I read about service tax registration after 9 lacs
and payment on amount of billing above 10 lacs is compulsory .
However a CA told me that there is a provision in service tax that first time if the 10 lac limit is crossed in several years of business I can wait for 1 more year for registration / payment .
Because in next 2-3 months / GST the limit is expected to rise from 10 lacs to 20 lacs . Then I will not be able to avoid service tax for next year also from bill 1 if I enter in it now. Most of the bills are inclusive of service tax and it is not collected seperately and as such will go from my pocket .
Please advice .
CAclubindia
