Hi,
My client has service tax turnover of Rs.15 lacs. Please clarify, whether he has to pay service tax on 15 lacs or Rs.5 Lacs (in excess of exemption of 10 lacs).
If he was having service tax turnover for Previous Year of Rs.15 lacs, what will be the liability.
You have to pay service tax on 5lacs. First 10 lacs is exempt from service tax.
But pinki I think Q is based on p.y. so he have to pay only service tax on amount 5 lac. If not please correct me.
Yes Mr. Pankaj is right this way service exemption would be available to such assessee who does not take any exemption in any previous year.
Service tax applicable on 5 lakhs only and remaining amount should be exempt
But from the next f.y. such assessee should have to collect service tax and deposit the same.
current year he has to pay service tax on 5 lakh. and from next year onward there would not be any exemption available, so for any amount of taxable service he has to pay service tax.
if you have registered in service tax department and last prv. years u have paid ur service tax on your turnover which is above ten laks then current year service tax will be paid on 15 lacs.
If any person is registered under service tax since last two years,,, but his turnover is not exceeding Rs 10 lacin any year. he is liable to charge S.T.
AND
if he had already charged S.T. on a bill by mistake then he has to charge S.T. on further bill ??????
Mr. Dinesh
Please refer if any notification or press release about your comment..
no, not any notification or press is released, as much i know
Hi Freind
Kindly refer Notification No.6/2005-ST dated 01.03.2005 issued by CBEC.
in my case there is not any kind of brand name or trade mark............
service provider is doing a job work
your client has to pay service tax on turnover Rs.1500000 as his turnover exceeds the limit of Rs.1000000 in Previos Year...
Mr. reddy, if in the previous year the sevice tax T.O. of ur client is less than exemption limit then his liability for the current year will be only on Rs.5 lacs,but if he has prev. year's T.O. more than exemption limit then in the current year his liabilty shall be on the amount of Rs.15 lacs..
CAclubindia
