24 September 2008
Our gross billing for the year 2008-09 will be in rangeof 7 lacs to 15 lacs but can not say exact in this moment. Last year billing was Rs. 4 Lacs.
Now Can we take the input credit on service tax for adjustment of service tax payable even if let assume gross billing will less than rs. 10 Lacs for this year?
In other words...
If my billing is less then Rs. 10 Lacs then if i collect the service Tax then can i take the input ctredit for adjustment of Payment of service tax?
27 September 2008
Can not collect service tax untill u are registered. If u opt to pay tax even without crossing 10 lakh limit, first take regn. then from that date onward start taking credit of input services and start collecting tax from the service receiver.
For more details contact at: arbindaggarwal@yahoo.com
CAclubindia
