06 July 2011
4/4/11 BILL NO. 1 RS. 425000 Payment not received TILL DATE
5/4/11 BILL NO 2 RS. 125000 PAYMENT RECEIVED
5/4/11 ADVANCE PAYMENT RECEIVED RS.11,00,000 INCLUDE AIR TICKET CHARGES WHICH IS USED BY THEM RS. 272750 WHICH WAS PAID BY OUR FIRM. (CONSULTANCY CHARGES FOR RS. 827250.00)
6/4/11 BILL NO. 3 RS. 827250.00 AGAINST ADVANCE PAYMENT RECEIVED
24/4/11 BILL NO. 4 RS.125000.00 PAYMENT NOT RECEIVED TILL DATE
Total Value of Invoice Raised from 1st April to 30th June'2011 are Rs. 15,02,250.00 inclusive to sevice tax.
Total Amount Received against the raised invoices are Rs. 9,52,250.00
Total Pending value against he raised invoices are Rs. 5,50,000.00
As per my view Service Tax due after Rs. 10,00,000.00 So Service Tax Payment is not due on me.
If my opion is wrong please let me know how much Service Tax Payment Due as on today.
08 July 2011
Service tax exemption of 10 lakh applies till the assessee provides services upto 10 lakhs. It is not concerned with realisation of the billed amount. Further, once an assessee crosses the threshold limit, no further exemption is available to him.
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