Service tax
This query is : Resolved
04 December 2011
Dear Seniors, please help !
I have started my small consultancy firm during the current FY only. My income so far is less than Rs.1 Lakh. Under some assumptions, I have recently obtained Service Tax Registration, even though I was aware that the minimum criterion for applying for Service Tax Registration is an income level of Rs.9.00 Lakh. My queries are :
(1) Now, since I already have a Service Tax Registration, do I have to compulsorily charge Service Tax to my clients ?
(2) What will happen if tomorrow my clients come to know that they have paid me Service Tax unnecessarily ?
(3) Can I avoid charging Service Tax under the pretext that my income is less than Rs.9.00 Lakh ?
With warm regards,
Krishan
I have started my small consultancy firm during the current FY only. My income so far is less than Rs.1 Lakh. Under some assumptions, I have recently obtained Service Tax Registration, even though I was aware that the minimum criterion for applying for Service Tax Registration is an income level of Rs.9.00 Lakh. My queries are :
(1) Now, since I already have a Service Tax Registration, do I have to compulsorily charge Service Tax to my clients ?
(2) What will happen if tomorrow my clients come to know that they have paid me Service Tax unnecessarily ?
(3) Can I avoid charging Service Tax under the pretext that my income is less than Rs.9.00 Lakh ?
With warm regards,
Krishan
04 December 2011
no need to collect service tax till it reaches 10 lacs
but if you collect than same to be paid
9 lac exemption is one time
but if you collect than same to be paid
9 lac exemption is one time
05 December 2011
No need to collect service tax till the date the total bills raised does not exceed 10 lakhs. Since you have taken registration hou have to file the return on time.
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