exemtion on service tax for new Pvt ltd co

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Mrityunjay (Querist)
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30 June 2010 Dear All,

we have opened new pvt ltd co,ours service oriented co,and we got 12 lac business

please guide me weather any exemption is service tax for new pvt ltd co and billing procedure for the client

Regards,
Mrityunjay

Shyam Lal Naik

Shyam Lal Naik (Expert)
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30 June 2010 Difficult to opine in the absence of full facts.

Any new company will get exemption upto Rs. 10 laks(ie. initial recepit). Rest is taxable.

Bills to be raised within 14 days from rendering of service. In case of continuing services, yiu can choose your billing cycle.

Once the TO exceeds Rs. 9 L service tax registration is compulsory. Charge ST after crossing TO of Rs. 10 L.