24 April 2012
The facility to pay service tax on receipt basis will be now available to individuals and partnership firms ,including limited liability partnership, up to a turnover of Rs 50/-lakhs in a financial year provided the taxable turnover did not exceed this limit in the previous financial year.
01 August 2012
The benefit available to individuals and firms on the basis of date of payment for eight specified services is being extended to all services. The facility will be now available to individuals and partnership firms (including limited liability partnership) up to a turnover of Rs 50 lakh in a financial year provided the taxable turnover did not exceed this limit in the previous financial year.
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