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.
CAclubindia
