CA J.Jayaprakash (Senior Officer (Finance)) (273 Points)
17 April 2013Hi. I am doing services on contractual basis for X ltd., X ltd., collects service tax from the customer and pays. In such a situation whether I am liable to pay service tax or not? Please do reply. Its very urgent. Thanks in advance.
CA D R P
(Chartered Accountant)
(313 Points)
Replied 17 April 2013
In this case ou are a service provider to X ltd. hence u will need to collect tax from x ltd and pay subject to service tax basic exemption limits, your turnover, registration, etc...
BASIC LIMIT: TURN OVER OF 10,00,000
REGISTRATION LIMIT: 9,00,000 TURNOVER
I.e After u reach a turnover of 10 lacs, an amount over it will be subject to service tax charge.
But this limit is to be considered based on previous year's turnover.
CA J.Jayaprakash
(Senior Officer (Finance))
(273 Points)
Replied 17 April 2013
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