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 ?
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.
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.
CAclubindia
