Service tax regn not done

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2011 My Service Charges Turnover is 25 Lakhs for the FY 2010-2011 and i am not registered in Service Tax.
Now i want to register under Service Tax.
Do i need to pay Service Tax for the year 2010-11 for 25 lakhs?
If i need to pay tax will i be charged Interest and penalty?
please suggest?

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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20 December 2011 Yes you will have to pay the same.

If it was your 1st year then you will get Rs. 10 lakhs exemption and pay Service Tax on the rest.

Interest would be leviable on the same.

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2011 I started the business on Feb-2010 and for Feb and Mar-10 my turnover was 50000 i.e. FY2009-2010.
2010-2011 will be the second year right. Now can I get the 10 Lakhs exemption.
please clarify, if i can get exemption of 10 lakhs for every accounting year in Service Tax Turnover.

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CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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21 December 2011 Yes... You will get the 10 lakh exemption..