Point of taxation
This query is : Resolved
25 September 2014
if there is any provision relating to point of taxation in service tax for individual , partnership firm and LLP . Any thresholds limit for above person and he pay service tax receipts basis or any?
25 September 2014
all the individuals and partnership firm (including LLPs) serviceproviders whose turnover is Rs.50 lakh or less in the previous financial year, have an option to pay service tax on receipt basis upto Rs.50 Lakhs taxable value. Beyond 50 lakhs, service tax will have to be paid on the accrual basis on the basis of issue of invoice.
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