WHAT IS LTU ?

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WHAT IS A LTU -LARGE TAX PAYER UNIT AND WHO IS ELIGIBLE FOR IT-

CA SUDHIR HALAKHANDI

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LTU is a self-contained tax office that provides single point interface with the tax administration to the large tax payers paying direct and indirect taxes above the threshold limit. A single office would deal with central excise/service tax/income tax/corporate tax issues of all units holding a single PAN.A person having units in various parts of the country will come under one tax office for all purposes.

Persons eligible are manufactures or taxable service providers who had paid excise duty/service tax of more than 5 crores during the year preceding the year of application. Income tax assesses paying advance tax if more than 10 crores can also opt.

 

HOW MANY LTUs ARE OPENED YET AND AT WHICH PLACES?

 thanks for the information -please post some more details about this

LTU BANGLORE, CHENNAI, MUMBAI & DELHI

pls go to the below link for LTU addresses:

 

https://ltu.gov.in/header.htm

Service tax dues for the month if greater than 50,00,000/- will entitle the company to be called LTU. The Service Tax dues will be paid online. The records of Serice tax shoudl be properly maintained. The input credit availed should not be more than 40% of Service tax Liability.

 

Rgds./Nitesh

 


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