Service tax exemption
This query is : Resolved
31 December 2008
Dear all
Please explain
2007-08 SERVICE ASSESSABLE VALUE (Billed amt) = 1000000
2008-09 SERVICE ASSESSABLE VALUE (Billed amt) = 1200000
HOW TO CALCULATE SERVICE TAX IN 2007-08 & 2008-09 IF EXEMPTION LIMIT IN 2007-08 = 800000 IN 2008-09 = 1000000
Please explain
2007-08 SERVICE ASSESSABLE VALUE (Billed amt) = 1000000
2008-09 SERVICE ASSESSABLE VALUE (Billed amt) = 1200000
HOW TO CALCULATE SERVICE TAX IN 2007-08 & 2008-09 IF EXEMPTION LIMIT IN 2007-08 = 800000 IN 2008-09 = 1000000
31 December 2008
Assessable value,in your question, means amount received.
But exemption limit is determined on the basis of amount billed.
But exemption limit is determined on the basis of amount billed.
31 December 2008
I correct my answer as follows:-
2007-08-Invoice amount in excess of threshold limit is Rs.200000/- You have to calculate tax on the amount received against that Rs.200000/-
2008-09-Cannot enjoy threshold limit.Amount received against that Rs1200000/-is fully taxable.
Mistake in my earlier answer is regretted.
2007-08-Invoice amount in excess of threshold limit is Rs.200000/- You have to calculate tax on the amount received against that Rs.200000/-
2008-09-Cannot enjoy threshold limit.Amount received against that Rs1200000/-is fully taxable.
Mistake in my earlier answer is regretted.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
