Hi Freinds,
I am working as a finance consusltant with KPIT cummins ltd as a contract employee, where i provide them with invoice including service tax , and i get salary in my account every month as professional fees including service tax.
. I have heard that i can claim a exemption of 10 lacs in the first year. am i liable to pay the serrvice tax . Please guide me.
My gross yearly income is 11 lacs approx.
Regards,
Neeraj
Yes you have to make the service tax payments since you are raising an invoice including service tax & even getting credit of it.
any amount received or collected in the name of service tax is to be deposited in the account of government.....
if you have already started collecting service tax in your professional fees bill, you have to deposit the tax so collected to the government. Have you got registration certificate please under service tax act?
rengaraj r.k
Hello Rengaraj,
i have applied for the service tax registration number. i am yet to get it.
Neeraj
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