25 March 2012
Now assessee need not to pay service tax in current financial year for first consecutive invoices issued or required to be issued. Up to 31.03.2012 it was first consecutive receipt. Now it is value of invoices raised or to be raised. Basic exemption limit is now same as earlier i.e. 10 lac rupees the only change is it can availed on the basis of invoices raised instead of payment as it become necessary after introduction of POT Rules, 2011.
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