Service tax rule
This query is : Resolved
29 March 2012
Hi, we are into commercial training and computer services registered for Service Tax in 2006. Till last year end we have not collected service tax since the turn-over for services was less than 10 lakhs every year. This year we have collected tax for computer services by giving invoices and not collected for training provided.
Now, my auditor asked me to pay the collected tax amount. Fine, it has to be. We will do that.
My confusions are:
1. The Service tax exemption limit of 10 lakhs is for every year or from the date of registration?
2. Suppose next year (2012 - 2013) if my turnover does not cross 10 lakhs and I collect the same taxes towards computer services and not for training, DO I NEED TO PAY THE S.T FOR TOTAL TURN OVER?
3. Suppose if I don't collect tax at all since my turn-over is less, is it an offense?
CAN SOME BODY HELP ME CLEARING MY DOUBT SINCE I AM FROM A NON COMMERCE BACKGROUND?
Now, my auditor asked me to pay the collected tax amount. Fine, it has to be. We will do that.
My confusions are:
1. The Service tax exemption limit of 10 lakhs is for every year or from the date of registration?
2. Suppose next year (2012 - 2013) if my turnover does not cross 10 lakhs and I collect the same taxes towards computer services and not for training, DO I NEED TO PAY THE S.T FOR TOTAL TURN OVER?
3. Suppose if I don't collect tax at all since my turn-over is less, is it an offense?
CAN SOME BODY HELP ME CLEARING MY DOUBT SINCE I AM FROM A NON COMMERCE BACKGROUND?
29 March 2012
LET ME GIVE AN EXAMPLE
IF UR TURNOVER FOR 2011-12 IS 9 LAKHS
THEN NO SERVICE ATX
IF ITS 11 LAKHS AND YOUR TURNOVER FOR 2010-11 WAS LESS THEN 10 LAKHS THEN ST ON RS 100000 ONLY
IF YOUR TURNOVER FOR 2011-12 IS 11 LAKS THEN FOR 2012-13 U WILL BE LIABLE TO SERVICE TAX WHATEVER IS YOUR TURNOVER FOR THAT YEAR
CA MANOJ GUPTA
JODHPUR
09828510543
IF UR TURNOVER FOR 2011-12 IS 9 LAKHS
THEN NO SERVICE ATX
IF ITS 11 LAKHS AND YOUR TURNOVER FOR 2010-11 WAS LESS THEN 10 LAKHS THEN ST ON RS 100000 ONLY
IF YOUR TURNOVER FOR 2011-12 IS 11 LAKS THEN FOR 2012-13 U WILL BE LIABLE TO SERVICE TAX WHATEVER IS YOUR TURNOVER FOR THAT YEAR
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
1 times
30 March 2012
Thanks for ur response Mr. Manoj.
But, do you mean to say 'if once it exceeds 10 lakhs, then I need to collect ST for rest of the years or only the next year. And if the next year (2012 - 2013) does not cross 10 lakhs, do i need to collect for 2013 - 14 also?
waiting for your expert advise !
But, do you mean to say 'if once it exceeds 10 lakhs, then I need to collect ST for rest of the years or only the next year. And if the next year (2012 - 2013) does not cross 10 lakhs, do i need to collect for 2013 - 14 also?
waiting for your expert advise !
30 March 2012
if once exceed 10L then u need to collect tax on turover above 10L only say ur turover is 11L in 2011-12 and ur Turnover in 2010-11 is less than 10L then u need to collect tax only on 1L
Continuing the above even If ur turnover for 2012-13 does not exceed 10L still u need to collect tax on entire amt
Continuing the above even If ur turnover for 2012-13 does not exceed 10L still u need to collect tax on entire amt
Message likes :
1 times
30 March 2012
Thak u very much Mr.Manoj.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
