Registration
Querist : Anonymous
One of my client's annual receipts from brokerage would be about 6 to 7 lacs, however he has obtain service tax registration. In this regard I have following query -
1. Whether he has been liable to pay service tax even his turn over is below 10 lacs.
Note Rs. 10,00,000 exemption is only for registration
if it exceeds 10lakhs then liable to pay service tax
tushar you are correct for first year only, however the query is not clear whether 6-7 lacs of turnover is for 1st year turnover or it subsequent years turnover. and if in subsequent year whether the turnover is exceeds Rs. 10 any time during any previous financial year is also not specify.
Therefore after getting registered under service tax one may can assume assessee has to pay service tax if turnover exceeds Rs. 10 lacs in any previous year
Querist : Anonymous
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