What is the value of Real-Estate commissions (FY 2010-11) received, on which the Service Tax becomes taxable.
"Valuation of Taxable Services for charging service tax" on real estate commissions received as an agent, as applicable for FY 2010-11 ending March-2011.
Earlier, i guess it was Rs. 8 lacs beyond which it became taxable for serv.tax.
THE LIMIT IS TEN LAKH FOR CHARGING SERVICE TAX AND NINE LAKH FOR REGISTRATION UNDER SREVICE TAX
The taxable services provided in the previous year [ 2009-10] should not have exceeded Rs.10 lakhs. If so then in the current year based on receipts of taxable services, after 10 lakhs liability arises. Since there could be a time gap between the billing and receipt, it maybe advisable to start charging ST from 9 lakhs tislef to avoid a situation of paying the St out of pocket.
N N V Satish & Co.,
Hyderabad
CA Inter
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Arpan Bohra & Co
Hyderabad
CA Inter
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CCI
Pro
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