31 July 2012
If your turnover in last year was below 10 lacs, then the turnover of current year will be exempt upto 10 Lacs. This is what known as small Service Provider.
31 July 2012
Please note that under reverse charge mechanism, GTA, Advocate fees, Manpower supply, the exemption is not available if you are a private limited or public limited. As a service receiver, you have to apply for RC and to pay. Therefore dont wait upto 9 lacs if you fall under reverse charge mechanism as one of the service receiver in 10 notified services.