Chartered Accountant
71 Points
Posted on 20 November 2012
Hie,
.
If in the previous financial year (FY 2011-12) aggregate value of taxable services provided was less than 10 lakh but this year (FY 2012-13) aggregate value of taxable services provided is more than 10 lakh then you start paying service tax after crossing the threshold limit Rs 10 lakh.
.
The Finance Act 2012, has amended the provision relating to small scale exemption recognizing that the aggregate value up to Rs 10 Lakhs will be in terms ofInvoices issued or to be issued for taxable services and not payments received.(Notification no.33/2012-ST dated 20.6.2012). This is w .e .f 1.7.2012.
Therefore
The service tax will be payable on amount exceeding Rs. 10,00,000 for the first year.
in terms of invoices issued/to be issued for taxable services and not payments received.
Read more: https://www.simpletaxindia.net/2012/09/service-tax-exemption-limit-who-can.html#ixzz2CjuDci1V
If in the previous financial year aggregate value of taxable services provided was less than 10 lakh but this year aggregate value of taxable services provided is more than 10 lakh them you start paying service tax after crossing the threshold of Rs 10 lakh.
Read more: https://www.simpletaxindia.net/2012/09/service-tax-exemption-limit-who-can.html#ixzz2CjtUWiUP
If in the previous financial year aggregate value of taxable services provided was less than 10 lakh but this year aggregate value of taxable services provided is more than 10 lakh them you start paying service tax after crossing the threshold of Rs 10 lakh.
Read more: https://www.simpletaxindia.net/2012/09/service-tax-exemption-limit-who-can.html#ixzz2CjtUWiUP
If in the previous financial year aggregate value of taxable services provided was less than 10 lakh but this year aggregate value of taxable services provided is more than 10 lakh them you start paying service tax after crossing the threshold of Rs 10 lakh.
Read more: https://www.simpletaxindia.net/2012/09/service-tax-exemption-limit-who-can.html#ixzz2CjtUWiUP
If in the previous financial year aggregate value of taxable services provided was less than 10 lakh but this year aggregate value of taxable services provided is more than 10 lakh them you start paying service tax after crossing the threshold of Rs 10 lakh.
Read more: https://www.simpletaxindia.net/2012/09/service-tax-exemption-limit-who-can.html#ixzz2CjtUWiUP
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