Exemption in filing service tax return

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PANKAJ JAIN (Querist)
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24 April 2009 My service income is Rs.4 Lacs between April - September ' 08 and Rs. 4 lacs between Oct-Mar'09 aggregating to Rs. 8 lacs in financial year 2008-09 . Is it compulsory to file a " NIL RETURN" for April- September ' 08 & for Oct- Mar'09.

The exemption limit is Rs. 10 lacs.

What will happen if I do not file a " NIL RETURN" in the above case.

CA Gunjan H Shah

CA Gunjan H Shah (Expert)
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25 April 2009 File Return as soon as possible. Even if its NIL Return. Non-filing of return attracts penalty as well as late fees.
i dont knw the exact charge but
you can visit sites like servicetaxonline.com

Shyam Lal Naik

Shyam Lal Naik (Expert)
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25 April 2009 For the basic exemption 2 conditions are required to be fulfiled in the given case.

1. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2007-08, and
2. The taxable receipts(not turnover)does not exceed Rs. 10L in the year 2008-09.

It is assumed that you fulfill both the conditions.

Since you are holding a Service Tax Registration, you are required to file NIL return.

There will be no penalty, as no revenue is involved. How ever, late fine has to be paid(maximum Rs. 2000/- per return)

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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25 April 2009 Agreee with experts

CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
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25 April 2009 Agreee with experts

Rajesh Kumar

Rajesh Kumar (Expert)
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25 April 2009 Are you registered? If not, there is no need to file any return. If however, you are registered with service tax, you need to file return.

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