08 March 2009
As I know that service tax Below turnover Rs.9 lakhs is exempt When turnover crosses Rs. 9 lakhs - Registration for service tax is compulsory. When crosses Rs.10 Lakhs - assessee will be liable to service tax collection and payment. first question is that if turnover is exact Rs.9 lakhs than Registration for service tax is compulsory? second question is turnover crosses Rs.10 lakhs assesse is liable but from when he will start to collect service tax after receiving Rs.10 lakhs or from begining.If turnover of assessee is Rs 10 lakhs and Rs.2000 how much will he deposite the s tax?
08 March 2009
But remember one thing, in case your turnover crossed 10 lakhs limit in FY 2008-09, then you will have to pay Service tax only on incresed turnover, but in next FY even if the TO is below 10 Lacs, you will have to pay Service tax on full amount. Please be carefull.
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