Sir,
One of my friend is not registered firm but holds a PAN card.
He is providing services for the first time and hence need to clarify regarding the Service Tax.
As the exempted limiti is 10 Lacs is he exempted from Service Tax ?
Please let me know how he can raise the Invoice?
Thanks and Regards,
Satish
IF THE TURNOVER DOES NOT EXCEED RS 9 LAKH THAN THERE IS NO NEED TO GET REGISTERED......
HE IS ENTITLED FOR THE FIRST 10 LAKH EXEMPTION .....
HE IS REQUIRED TO ISSUE INVOICE WITHIN 14 DAYS FROM THE DATE OF COMPLETION OF SERVICE OR RECIEPT OF PAYMENT WHICHEVER IS EARLIER......
As your friend is exempted from service tax being having turnover of less than 10 lac, he can raise invoice without service tax, invoice will have same as in service tax but he will not charge service tax on invoice. And can write his name and pan no. on invoice. and simple can get hisbill books printed even.
if there is anything specific you want to ask kindly confirm.
HE NEEDS TO GET REGISTERED IF HIS TURNOVER EXCEEDS 9LACS PA. ALSO IF HE IS IN REVERSE CHARGE AMBIT HE NEEDS TO GET COMPULSORILY REGISTERED.
Yes, Upto 10lakhs ST not applicable for small service provided.
He must register for ST when his turnover crosses 9Lakhs.
He can charge service tax on his invoice only after registering & obtaining ST reg number provided his turnover crosses 10lakhs.
| Originally posted by : RAMESH ...cma final | ||
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IF THE TURNOVER DOES NOT EXCEED RS 9 LAKH THAN THERE IS NO NEED TO GET REGISTERED...... HE IS ENTITLED FOR THE FIRST 10 LAKH EXEMPTION ..... HE IS REQUIRED TO ISSUE INVOICE WITHIN 14 DAYS FROM THE DATE OF COMPLETION OF SERVICE OR RECIEPT OF PAYMENT WHICHEVER IS EARLIER...... |
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Agreee with the above quote;
He needs to register only when his turnover crosses 9 lakhs and pay service tax for the turnover over and above 10 lakhs.
However, once he is registered , he should pay service tax on the total turnover from next year onwards
Exempted from service tax being having turnover of less than 10 lac, he can raise invoice without service tax, invoice will have same as in service tax but he will not charge service tax on invoice. And can write his name and pan no. on invoice. and simple can get hisbill books printed even.
| Originally posted by : RAMESH ...cma final | ||
|
|
IF THE TURNOVER DOES NOT EXCEED RS 9 LAKH THAN THERE IS NO NEED TO GET REGISTERED...... HE IS ENTITLED FOR THE FIRST 10 LAKH EXEMPTION ..... HE IS REQUIRED TO ISSUE INVOICE WITHIN 14 DAYS FROM THE DATE OF COMPLETION OF SERVICE OR RECIEPT OF PAYMENT WHICHEVER IS EARLIER...... |
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agreed with All the expert.
Yes, Upto 10lakhs ST not applicable for small service provided.
He must register for ST when his turnover crosses 9Lakhs.
He can charge service tax on his invoice only after registering & obtaining ST reg number provided his turnover crosses 10lakhs.
From 01.07.2012 onwards, the first 10 lacs exemption is based on the invoices raised, and earlier it was receipt based.
He must apply for registration when his taxable turnover reaches 9 lacs.
rengaraj r.k
E/N 6/2005(SSP EXEMPTION) Upto 10lakhs of invoice issued(POT RULES 2011) ST not applicable .He must register for ST when his turnover crosses 9Lakhs.He can charge service tax on his invoice only after registering & obtaining ST reg number provided his turnover crosses 10lakhs.
Hi
is the war ship repairing service exempted from service tax? Pl let me khow the notification or circular no.
Thanks
what is the notification no. ????
CAclubindia
