Question about audit & service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2012
Hi,
I am a small service provider(proprietor) and my serivces turnover was less than 10 lakhs and hence I didn't applied for service tax number and neither my accounts were audited (As the limit was 10 lakhs.).
But today I found that my turnover has crossed 15 lakhs. (It is aroound 15.9 lakhs.). So will my account will require auditing from this year and should I apply for service tax number now? ( I was told that the limit for auditing was Rs.15 lakhs for service providers.)
I am a small service provider(proprietor) and my serivces turnover was less than 10 lakhs and hence I didn't applied for service tax number and neither my accounts were audited (As the limit was 10 lakhs.).
But today I found that my turnover has crossed 15 lakhs. (It is aroound 15.9 lakhs.). So will my account will require auditing from this year and should I apply for service tax number now? ( I was told that the limit for auditing was Rs.15 lakhs for service providers.)
28 March 2012
The audit limit is Rs. 60 lakhs for persons carrying on business.
The linit is Rs. 15 lakhs for professionals.
What is the nature of the service that you provide?
The linit is Rs. 15 lakhs for professionals.
What is the nature of the service that you provide?
28 March 2012
The limit of Rs. 15 lacs is applied to professionals such as doctors, CA's, architect etc.
You are providing service of any of this nature than you are professional other wise you are a business man and limit of Rs. 60 lacs is apply to you.
You are providing service of any of this nature than you are professional other wise you are a business man and limit of Rs. 60 lacs is apply to you.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2012
I am software professional providing services like web applications development. My services attracts service tax if the turnover crosses 10 lakhs.
And this financial year, my services crossed 15 lakhs. So will I require auditing of accounts from this year or from next year..? And should I apply for service tax number now?
And this financial year, my services crossed 15 lakhs. So will I require auditing of accounts from this year or from next year..? And should I apply for service tax number now?
28 March 2012
You are required to get your accounts audited from next year.
Yes, you should apply for service tax registration. You will also have to pay service tax on the amount exceeding Rs. 10 lakhs.
Yes, you should apply for service tax registration. You will also have to pay service tax on the amount exceeding Rs. 10 lakhs.
14 April 2012
Experts have given proper reply to your query and I agree with them
14 April 2012
Mr CA SS Agarwal, please try to add value with your replies.
Do not add unnecessary replies to a query.
Do not add unnecessary replies to a query.
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