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Treshhold limit of 10 lacs - Composition of tax

Queries 978 views 3 replies

K.Sivakumar

Chartered Accountant

60 Points Joined June 2010

We have registered for Service Tax under the category of Interior design (comes under works contract and eligible for composition). Can we apply for composition now? whether the 10 lacs exemption is still available? should we need to wait till we reach the 9 lacs mark? can we claim the exemption even after registration is taken or is it a pre-condition to avail the exemption that we are applying only when we cross the 9 lacs mark (please note that we have not crossed the bench mark of 10 lacs in the last year). If you can through some light on this, it would of help??

Thanks

Replies (3)

Shyam Lal

Prop

24 Points Joined January 2010

What is Limit of Service Tax Under Composition scheme registered in works contract

Pankaj Arora

Learner

3134 Points Joined September 2009

Yes you can apply for composition scheme….

Yes 10Lac exemption limit is still available….

Yes you should should for 9lacs to register in service tax act…

Yes you can claim exemption after registration too but don’t charge service tax on any invoice otherwise you could not take benefit of exemption limit.