23 March 2012
Service tax payable on receipt basis by all individual and partnership firms (including LLP) upto turnover of Rs.50 lakhs, if turnover of taxable services in respect of previous year (of the total entity and not individual unit) was below Rs.50 lakhs [Fourth proviso to Rule 6(1) of Service Tax Rules inserted w.e.f. 1-4-2012]
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