Query related to issue of service tax bills

This query is : Resolved 

(Querist)
06 March 2012 Dear Sir,

Actually 1 of my client has taken new Service tax Regn no. & wants to issue rent bills for his property,so shud he issue bills after crossing the threshold limit of Rs.10 Lacs or shud he issue the bills of service tax before the limit reaches Rs.10 Lacs

Please Sir i need an urgent reply or just send me the link from where i can get to know the details.

Thank You.


11 March 2012 If it is first year of providing service, he need not issue bill for collection of Service Tax.But he can issue Bill for rent without mentioning Service Tax element. After crossing the exemption limit, he may or may not issue bill with Service Tax element but Service Tax has to be paid on the gross amount received considering the amount received is inclusive of Service Tax. So it is better to issue bill with Service Tax amount shown separately after crossing the exemption limit of Rs.10 Lakhs. Once exemption limit crosses, no exemption is available in the following financial year.

jay (Querist)
27 September 2012 thank you sir




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries