Guest
Respected Sir/Madam,
One person is operating travel agency, that is, he has got 50 cars and van which he has given to IT/BPO/KPO,
He was given the payment after TDS,
He mentioned service tax in Invoices,
His taxable amount is well beyond margin of 10,00,000/-.
He is not registered for ST,
Now he wants to apply for ST,
But all the while he has paid his income tax, showing income from Business.
Question is : -
Will there be any problem for running the business without paying the ST for so long,?
If he makes ST registration showing it to be an new company, is there any chances of his previous untaxed amount to be taxed?
Does he has to pay ST on 40% on total turnover ? Or 40% of taxable income beyond 10,00,000 margin.
Thanks in advance.
Surya