12 May 2013
hiii all, my query is related to service tax payment. i.e i am getting confused here in payment of service tax on small amt. i mean to say :- whether service tax is payable on every small transaction or any amt is fixed for leviable of service tax? if it is leviable on every transection related to service (taxable services) than what is exemption provision of RS 10 lakhs, i.e. if taxable amt would not exceed RS 10 lakh than it is under exemtion provision.if i provide services of RS 100 than, will i collect 12.36% as a service tax or i will come under exemtion of RS 10 lakh? plz send me the solution on my mail :- cma.ganand@gmail.com for clarification if i provide services of RS 100 t
27 June 2013
As regards charging of service tax your turnover should exceed 10L but you cannot restrict others from charging Service tax from you. Once you have crossed the TO of 10L then whatever you have paid as ST can be adjusted against what you have charged. In case you have charged more and paid less then the balance have to be paid by you at the rate as prescribed.
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