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Works contract
If a continuous supply of service contract(eg. works contract) is completed in 2 years, then exemption to small service provider(ssp) of rs. 10 lacs (taxable turnover) is available in both the years?
Replies (1)
Hello Ankit,
Small Service Provider exemption as per notification no. 33/2012-ST is available for works contract also provided that the aggregate value of taxable services rendered by service provider, from one or more premises does not exceed Rs.10 Lakhs in the preceding financial year. So emphasis is on the turnover during preceding financial year not cummulative turnover for any 1 service till it gets completed. Hope you are clear with this and if any further input is required do reply
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