If one start a new company in 2010 into education & training or takes up a franchise from another company does he ned to register for service tax immidiately or is it turnover based that after a perticular turnover he is liable to get registered. ALso is it mandatory to get registerd first then do the transactions only or he may sign up as franchisee and also register for the service tax in the same FY 2010.
Abhishek
No, it is not mandatory for a new firm to get it registerd under service tax before starting of it's operations, But once the company's turnover exceeds the limit as mentioned by the act, co. has to get itself registered.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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