I have a query regarding service tax my freind have a Pvt ltd co. and he registerd it on Jan 2010 and after that in the month of march he done around 15 lac billing.
Question is he has not apply for service tax reg no.....can u pls tell what should to do now.
20 April 2010
Service Tax number should be taken within 30 days of the turnover crossing Rs. 9 lakhs. So number should be taken immediately.
If the client has just done billing and amount has not been received in the last year then service tax not to paid.
If amount also received then service tax to be paid on Rs. 500,000 after grossing up i. e. Service Tax Rs. 46,691/- to be paid along with interest @ 13% p. a. for the number of days from 31st March till the date of payment.