04 October 2013
A company is formed in the month of Feb 2013 and its provides service of Rs 12,00,000/- till 31/03/2013. so when is the Company required to take Registration?????
04 October 2013
Basic Exemption Limit for Service Tax Registration is Rs. 10 Lakh. Registration becomes compulsory exceeding the turnover of Rs. 9 Lakh.
Application for registration within 30 days or on crossing turnover of 9 lakhs..
File application in form ST-1 electronically and obtain registration number online..
PENALTY
If there is a delay in registration, penalty of Rs. 200 per day of delay, restricted to Rs 10000 can be imposed under section 77(1) of Finance Act, 1994. The penalty under section 77 is not automatic. If the assessee can prove that there was a reasonable cause for the delay in registration, the penalty could be waived under section 80.