06 May 2010
One of my client who has turnover upto 15th April is Rs. 5.00 lac and has further raised a bill of Rs. 7.00 lac. Sale upto 15.04.2010 5.00 lac one single bill(16.04.2010) 7.00 Lac
Now I want to know that on which date I should apply for registration.
what will be my tax liablility as I want to avail the exemption of Rs. 10.00 lac as per notification No. 8/2008 dated 01.03.2008.
At the time of asking the registration The Department has opine that I have to pay tax on total sales of 12 lacs and I can not claim the threshold exemption as per notification No.8/2008, and i have to forgo the exemption as soon as I take registration. and has to collect tax on the previous bill of Rs.5 lacs also. How far the point of department is feasible
06 May 2010
you can go for registraion on or after 16.04.2010 and ensure that you have madet the ST-1 application within 30 days from 16.04.2010. Your tax liability would be above Rs. 10 laksh and not the entire amount of Rs 12 laksh. Pls read the said notification carefully.
CAclubindia
