Chargeability of service tax
This query is : Resolved
05 August 2015
I have recently taken service tax no for my business of mobile repairing which i have started few days back. Now is it compulsory for me to charge service tax from the very first invoice. ?? There is no chance that i shall render taxable service of Rs 10 lakh in this financial year.
05 August 2015
till u dont provide service valuing 10 lakhs from such business no need to pay service tax nor charge service tax to clients.
but now u need to file st-3 even if income is less then 10 lkhs since you took registration.
but now u need to file st-3 even if income is less then 10 lkhs since you took registration.
05 August 2015
Ok. Thanks a lot.
05 August 2015
you are welcome pankaj kumar...........
05 August 2015
Dear Mr. Tushar there is different between Income earned and services provided.
And service tax levied on Services Provided not income earned under section 66B of Chapter V of Finance Act 1994.
ANd for main query only taxable services will be counted for the purpose of claiming exemption under notification no 33/2012 dated 20th June 2012. And no ST required to be paid till taxable services exceeds 10 during the year. And if such limit doesn't cross during the year same exemption will be carried for next year also.
Thanks...
And service tax levied on Services Provided not income earned under section 66B of Chapter V of Finance Act 1994.
ANd for main query only taxable services will be counted for the purpose of claiming exemption under notification no 33/2012 dated 20th June 2012. And no ST required to be paid till taxable services exceeds 10 during the year. And if such limit doesn't cross during the year same exemption will be carried for next year also.
Thanks...
05 August 2015
i guess income can earned only by providing service and hence to make him understand in layman language i had used anyways i have changed it as u said.
05 August 2015
Thanks Tushar...
You are also welcome to correct me...
You are also welcome to correct me...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
