1. Obtained st-2 in the name of my proprietory concern on 16 -3 -2012. This is the first year of my proprietary concern. I have taken registration as i provide taxable service.... 2. Filed half-yearly nil return on 25 april 3. Billing to be raised of 5 lakh 4. expected annual income to exceed 10 lakh
My questions-
1. Should I charge service tax on the billing of 5 lakh 2. When should I start charging service tax?
02 May 2012
Sir for the f.y 2012-13 you should charge s.tax only once you cross Rs. 10 lac of taxable services on the value of subsequent billings. this is in light of fact that you mentioned that ur turnover for f.y 2011-12 is less then 10 lac assuming the only 1 service you are providing which you have mentioned. So no need to charge on 5 lac as mentioned above
CAclubindia
