03 March 2014
my query is -whether once in service tax always in service true?? If an Assesee who is under service tax ambit subsequently if the value of the Taxable Services fall below 10 lakhs does assesee still has to pay service tax for the subsequent years??
03 March 2014
"Once in service tax, always in service tax" is NOT correct.
If during any year, the total turnover is less than Rs. 10 lakhs, then in the subsequent year the assessee is a Small Service Provider and he is eligible for service tax exemption.
03 March 2014
even if you have registered with service tax and your turnover is bellow 10 lakhs then no need to pay service tax but filing of service tax return is mandatory.
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