07 April 2009
What is current limit of service turnover for application of service tax and if the turnover crossess the limit, service tax shall apply in the same year on the turnover exceding exempt turnover or from next year
07 April 2009
Mr Jitender, You are right in telling the limit as 10 Lkhs, But once you cross 9 Lkhs you have to apply for registration & after that once you cross 10Lkhs you have to start charging service tax & Pay / Deposit all such service tax applicable on the T/O exceeding 10 Lkhs, Not on your entire T/O of 10 Lkhs. This provision becomes applicable only in the first year when you take registration, there after for the next year onwards your liability towards collection & payment of service tax shall begin from first rupee billing.
Any further query you can call me Chandrakant Ambani Mumbai 9819408963 9821240674
CAclubindia
