One of my friend has taken his service tax registration. He will be crossing the limit of Rs. 10 lacs in March 2014. In case if he crosses, then the return will be filed as a normal return by availing the Cenvat Credit of Input Tax paid.
My query is if we file the return for October 2013 - March 2014 by 25th April 2014, are we required to include service tax component on each invoice that will be issued right from April 2014 onwards. That is whether the limit of Rs. 10 lacs is applicable every year or only once.
Please guide me for the same so that appropriate conclusion can nbe arrived at.
CAclubindia
