Ugrent

 

 

Dear All,

   Mr.X is in to the Service Industry & has taken the Service Tax Regsitration Number but his Turnover doesnt  Exceed Rs.10 Lakh which may take more 2 to 3 yrs in business.

1.Does he need to surrender the Certificate as his turnover doesnt exceed  & he is not collecting the Service tax from the clients?

2.Does he need to file the Returns ?

3.Please refer with the Case Laws Relevant ?

4.Does he need to collect the Service Tax from clients?

 

Thanks

 

Replies (2)

he need to file return only timely....

as his gross total income does not exceed 10 LAKHS he need not to collect any ervice tax from his client...

he can hold the certificate as when ever his GT will go beyond the limit he can use the same certificate...

Originally posted by : CA.Sonia

 

 

Dear All,

   Mr.X is in to the Service Industry & has taken the Service Tax Regsitration Number but his Turnover doesnt  Exceed Rs.10 Lakh which may take more 2 to 3 yrs in business.

1.Does he need to surrender the Certificate as his turnover doesnt exceed  & he is not collecting the Service tax from the clients?

2.Does he need to file the Returns ?

3.Please refer with the Case Laws Relevant ?

4.Does he need to collect the Service Tax from clients?

 

Thanks

 

 No need to submit the registration certificate as the turnover may exeed  10 lakhs Ruppees in future. Even nil returns are required to be filed. It is at the option of the service provider to charge serivce tax from the 1st bill or to charge when turnover exceeds Rs 10 lakhs.


 

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