28 January 2013
supose in one year a firm's turnover exceeds rs.10,00,000 So it is liable to get service tax registration bt if in next year if turnover doesnt exceed the said limit then also we have to pay service tax or nt
29 January 2013
if in current year the turnover is more than 10 lacs., tax has to be paid on 10 lacs above only., for next year ., he has to pay service tax from first rupee.... if in the next year ., the turnover is less than 10 lacs., he can claim SSI exemption for next year
29 January 2013
for Example for the financial year 2010-11: your turnover is 11 lacs., if it is your first year., where your turnover exceed 10 lacs., then tax on 1 lac., anf for FY 2011-12 you cant claim SSI exemption and if in that year your turnover is 9 lacs., you need to pay tax on total of 9 lacs., and for FY 2012 -13 you can claim the exepmtion of the SSI ., and need not pay tax until 10 lacs
29 January 2013
I don't think once you are registered in service tax and next year you can claim SSI exemption. for CA Bhargava- please check your ans, if I am wrong please tell me
29 January 2013
CA Prashanth gupta., the provision is that ., the turnover in the previous year is 10 lacs., in that case even if your turnover is high initial years and then if it decreased in the last year., you can claim the exeption ., please refer the reckoner of any
CAclubindia
