Point of taxation
This query is : Resolved
24 April 2012
Whether Service Tax is again taxable on receipt basis..??
24 April 2012
No, Service tax chargeable on the basis provided in the point of taxation rules.
However small service providers .i.e having turnover up to 50 lakhs. can pay service tax on receipt basis.
And also professionals like CA, CWA,CS etc receipt basis continued.
However small service providers .i.e having turnover up to 50 lakhs. can pay service tax on receipt basis.
And also professionals like CA, CWA,CS etc receipt basis continued.
Message likes :
1 times
24 April 2012
Turnover is 50 lacks or 60 lacks??????
Message likes :
1 times
24 April 2012
Thank you mihir, it is 50 lakhs only .
24 April 2012
The facility to pay service tax on receipt basis will be now available to individuals and partnership firms ,including limited liability partnership, up to a turnover of Rs 50/-lakhs in a financial year provided the taxable turnover did not exceed this limit in the previous financial year.
Message likes :
1 times
Guest
Guest
(Expert)
01 August 2012
The benefit available to individuals and firms on the basis of date of payment for eight specified services is being extended to all services. The facility will be now available to individuals and partnership firms (including limited liability partnership) up to a turnover of Rs 50 lakh in a financial year provided the taxable turnover did not exceed this limit in the previous financial year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
