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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
Trending Online Classes
CAclubindia
