Service tax deduction

This query is : Resolved

Santhoshkumar Venkatachalam (Querist)
Follow

01 July 2013 First year professional receipt cross 10 lakh rupees..so i have to collect service tax..next year receipts only 9 lakh rupees..what should i do now..?whether collect or not..?

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

01 July 2013 If you have registered with service tax then you can surrender the ST-2.

My suggestion for you is plz take consideration for next year turnover before surrendering ST-2

Message likes : 1 times

Santhoshkumar Venkatachalam

Santhoshkumar Venkatachalam (Querist)
Follow

01 July 2013 Sir,Last year i am a service tax (>10lakh)assessee..but current year receipts only 9 lakh.next year it will increase (>10lakh).this year whether i have to collect or not sir.?

Upgrade to CAclubindia Pro. Subscribe Now!

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

01 July 2013 If you have service tax registration, you have to collect service tax whatever may be the collection till the service tax registration surrendered

Message likes : 1 times

Santhoshkumar Venkatachalam

Santhoshkumar Venkatachalam (Querist)
Follow

01 July 2013 Thank u sir..