I have doubt regarding service tax. one of the my friends business exceed the exemption limit of service tax chargeable he is already service tax register holder and getting exemption Rs. 10/- lakhs last three year but now he is crossing the limit i.e. his turnover for the year 2015-16 is Rs 17/- lakhs
so my doubts is he must be pay on tax above the limit only i.e. Rs. 7/- lakhs or whole Rs. 17/-
15 April 2016
Dear Sir, For Claiming benefit of Notification no. 33/2012 your turnover for the preceding year should not exceed Rs. 10 lakhs, as you have mentioned that he is claiming exemption since last three years therefore he can claim benefit of Notification no. 33/2012 for the year 2015-16 and service tax need to be paid only on Rs. 7 Lakhs. it should be noted that for the year 2016-17 he would not be entitled for any exemption and service tax will be applicable irrespective of your turnover.
CAclubindia
