20 October 2011
We are the Chartered Accountant Firm. In FY 2010-11 I receipt fee for Rs.1305000/-and I pay the Service Tax on Rs.305000/- Now the my question is in FY 2011-12 suppose I receipt Professional Fees for Rs. 1435000/-then what is the service tax applicability? We are not issue Professional Fees Bill till 10/10/2011 and we Receipt Professional Fees Rs.6000/- in May-2011. We can take Rs. 10 lakhs exemption in FY 2011-12. Kindly give the suggestion.
25 October 2011
No you cannot take small service provider exepmtion of Rs. 10 lacs in the year 2011-12. You will have to pay Service tax from the very first day,
CAclubindia
