Hi friends,
do anyone know under which section the basic exemption up to Rs.10 Lacs is allowed for small service providers.?
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Service Tax Basic Exemption
Replies (9)
The exemption for service tax is not 10 lacs. It is 8 lacs. Once the service income exceeds 7lacs the provider has to register himself.
The exemption limit is 10L wef 01/04/08
sec 67
but it is just based on pre-determined sales if sales of last year is below taxable limit and if sales cross the limit in this year then service tax is only payable on or over the limit the firm is not liable for limit which they don't collect the service tax.
The exemption to small service provided has been provided by notification no. 6/2005 as amended by notfication 8/2008.
The intial threshold exemption is 10 lakhs
Hi friends,
Whether foreign travel expenses will attract FBT or not..
hiii,
the exemption has been increased to 10 Lacs from 8 Lacs by Finance Act 2008.
hii
FBT provisions defining Travel clearly mentions TRAVEL INCLUDING FOREIGN TRAVEL. So Foreign travel is also well within the purview of FBT.
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