exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2010 I am providing taxable service and have recevied amount of Rs 9 lakhs. My next bill is for Rs 3 lakhs. With this bill it is becoming Rs 12 lakhs.

Query : In the bill for Rs 3 lakhs i shall charge service tax on Rs 2 lakhs or entire ?

How to prepare the bill to show exempted amount of Rs 1 lakhs in this bill ?

Pls advise

Pragnesh

Pragnesh (Expert)
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02 April 2010 Service tax is applicable on Rs.2 Lacs. While applying service tax just mentioned that service tax on Rs.2 Lacs. This is my view. Let us see what other expert reveiw.

Regards
Pragnesh

CA Robin Betala

CA Robin Betala (Expert)
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02 April 2010 Basic exemption is dependent on your Previous financial year Billed amount
if it is below Rs 10 lacs then , you are required to pay service tax on whole amount of Gross recipt for the current year .

And if not the Only Gross receipt above Rs 10 lac only

Please mention
Tax is to be paid on Gross receipt excess of 10 lac
and not on bill amount above Rs 10 lac.

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