Exemption in filing service tax return
This query is : Resolved
24 April 2009
My service income is Rs.4 Lacs between April - September ' 08 and Rs. 4 lacs between Oct-Mar'09 aggregating to Rs. 8 lacs in financial year 2008-09 . Is it compulsory to file a " NIL RETURN" for April- September ' 08 & for Oct- Mar'09.
The exemption limit is Rs. 10 lacs.
What will happen if I do not file a " NIL RETURN" in the above case.
The exemption limit is Rs. 10 lacs.
What will happen if I do not file a " NIL RETURN" in the above case.
25 April 2009
File Return as soon as possible. Even if its NIL Return. Non-filing of return attracts penalty as well as late fees.
i dont knw the exact charge but
you can visit sites like servicetaxonline.com
i dont knw the exact charge but
you can visit sites like servicetaxonline.com
25 April 2009
For the basic exemption 2 conditions are required to be fulfiled in the given case.
1. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2007-08, and
2. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2008-09.
It is assumed that you fulfill both the conditions.
Since you are holding a Service Tax Registration, you are required to file NIL return.
There will be no penalty, as no revenue is involved. How ever, late fine has to be paid(maximum Rs. 2000/- per return)
1. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2007-08, and
2. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2008-09.
It is assumed that you fulfill both the conditions.
Since you are holding a Service Tax Registration, you are required to file NIL return.
There will be no penalty, as no revenue is involved. How ever, late fine has to be paid(maximum Rs. 2000/- per return)
25 April 2009
Agreee with experts
25 April 2009
Agreee with experts
25 April 2009
Are you registered? If not, there is no need to file any return. If however, you are registered with service tax, you need to file return.
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
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Gst Sales of FY 2023-24
- Whether still royalty
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Payable outstanding for years disallowance
- TDS NUMBER SURRENDER
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
