Mr.x's business profile in a lay man language:
He purchases every material required in building repair work + purchases bathroom sanitary materials.
He has labours on wage basis and simply performs the building repair works with the purchased materials employing his waged labours.
His Gross-turn over come to 30-35 lakhs & and after deducting allowable exps, his net profit comes to 3-4 lakhs. he files only income tax return, Experts told that he is liable for service tax. I am new to service tax.
Q. service tax limit depends on turnover or net profit.
CAclubindia
