Hi. 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.
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Service tax on contractual basis
Replies (2)
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.
Thank u vry much Mr.D R P.
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