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Voluntary ST registration

Queries 1507 views 3 replies

I have taken Service Tax Registration to open the Bank Account. However I am not sure, whether I will cross the basic exempted Turnover of Rs. 10 Lac during the current year or not. I need to know, whether I need to charge the service tax from starting invoice or I can wait till my turnover crosses 10 Lacs,

Replies (3)

1) to open a bank account service tax is not mandatory.

2) you have to file nil return till 10 L of service then charge service tax 

OR

you have to charge service tax from Rs 1/- and avail input credit of service received.

Dear Member,

Service tax registration in not required in case to open Bank account. second thing you have to pay service tax on entire amount of bill i.e. from Rs.1/- onwards if you have crossed 10 L limit. meantime you have to disclosed bill amount in service tax return stating exempt income as per explanation (B) to para 3 of notification no. 6/2005-ST, dated 01-03-05.

Originally posted by : Pragnesh Sitapara

Dear Member,

Service tax registration in not required in case to open Bank account. second thing you have to pay service tax on entire amount of bill i.e. from Rs.1/- onwards if you have crossed 10 L limit. meantime you have to disclosed bill amount in service tax return stating exempt income as per explanation (B) to para 3 of notification no. 6/2005-ST, dated 01-03-05.

Agree


CCI Pro

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