11 August 2010
What is Service Tax Liability under the given instance? A person has started new business of providing taxable service in F.Y. 2009-10. For that respective year his receipts is Rs. 600,000/- upto the month of August, 2009. He voluntarily registered under Central Excise for Service Tax. Whether he is liable to pay service tax on Rs. 600,000/- (i.e. receipts upto August) or he is liable to pay from registration onwards OR He should wait till basic exemption limit is exhausted (i.e. Rs. 10lacs)?
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