In previous year 2009-10 the total turnover of a company is 8.50 Lacs, in this financial year till April 10 the total turnover is 2.00 lacs the gross turnover including the previous year is 10.50 lacs which is more than the limit for service tax registration specified by goverment.
I wish to know that company should get registered because the gross turnover is more than 9 lacs which is 10.50 lacs or in current financial year when company cross 9 lacs, should go for registration.
I mean at the time of registration which amount is considered current year turnover or Gross turn over if more than 9 Lacs.
18 May 2010
The turnover for accounting and service purpose are different. For service tax purpose, you have to calculate the cash turnover.
For the purpose of arriving at the threshhold for registration, the Turnover of pervious year is not required to be added to the current year's turnover.
You are required to get registered, once your cash turnover exceeds Rs. 9.00 lakh during the current year only.
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