28 November 2012
I HAVE A DOUBT REGARDING THAT EXEMPTION UP TO 10 LACS FOR PAYMENT OF SERVICE TAX IS AVAILABLE IN THE FIRST YEAR ONLY OR IN SUCCEEDING YEARS ALSO SAME EXEMPTION IS AVAILABLE THAT MEANS IN THE FIRST YEAR MY PROFESSIONAL RECEIPTS IS 12 LACS, SO I PAID SERVICE TAX ON 2 LACS AND IN THE SECOND YEAR MY RECEIPTS IS ONLY 9 LACS DO I NEED TO PAY SERVICE TAX ON WHOLE 9 LACS OR WHETHER CAN I AVAIL EXEMPTION OF 10 LACS IN 2ND YEAR ALSO
29 November 2012
In first year you need to pay ST on 2 Lakhs. In second year on full 9 Lakhs.
Threshold limit exemption of Rs 10 Lakhs is available if aggregate value of taxable service provided during previous year is below Rs 10 Lakhs (Notification 33/2012-ST)
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