A Person who started business in F.Y 2011-12, has went for Service tax registration before his taxable service exceeds Rs.9,00,000/- He started to pay service tax. Now he wants to avail the exemption from payment of service tax since his taxable service in a financial has not crossed Rs.10,00,000. Is it possible?
Thanks
if in the preceding financial year the aggregate value of taxable services has not exceeded 10 then you may avail this exemotion in new financial year.This exemption is optioal so even if you paid service tax in preceding financial year you ncan avail this exemption.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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