Service tax exemption
This query is : Resolved
03 October 2008
We are a registered unit under Service Tax. Last year our turnover was Rs. 5 lacs and we had collected the tax on this amount and paid accordingly. Current year till date our T.O.have crossed Rs. 4 Lacs and we have already collected the service tax and taking input credit and not paying the service tax which collected. It is 100% sure that our T.O. wil not cross Rs. 10Lacs Limit during the full year.
Is it OK according the law? Pls confirm and thanks in advance.
Is it OK according the law? Pls confirm and thanks in advance.
03 October 2008
You can, but if there is a small output tax then pay it. File returns in time and properly.
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