28 April 2012
If an assessee gross turnover was Rs.800000/- in F.Y. 2009-2010 and in F.Y. 2010-2011 the gross turnover is Rs.1150000/- then for F.Y. 2010-2011 Service Tax will be applicable at Rs.1150000/- or Rs.150000/- (1150000-1000000).
Subsequently in F.Y.2011-2012 if gross turnover is Rs.500000/- then whether Service Tax will be applicable or not ?
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