Hi,
Can any one tell me how to determine whether Service Tax is payable by a person.
eTaxMentor (employee) (217 Points)
18 September 2012Hi,
Can any one tell me how to determine whether Service Tax is payable by a person.
Varma
(Senior Process Executive)
(305 Points)
Replied 18 September 2012
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 18 September 2012
if value of taxable services exceeds 10,00,000 in a financial year.He is liable to pay service tax.if value of taxable services exceeds 900000 in year He has to registered himself with designated superintendent of central excise. with in 30 days.
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 18 September 2012
Originally posted by : ganeshbabu | ||
![]() |
if value of taxable services exceeds 10,00,000 in a financial year.He is liable to pay service tax.if value of taxable services exceeds 900000 in year He has to registered himself with designated superintendent of central excise. with in 30 days. |
![]() |
Riddhi
(CA Final)
(65 Points)
Replied 18 September 2012
Firstly to determine whether service tax is payable by a person, one needs to confirm that he doesn't fall in the negative list of services.
If the service of that person falls in that list, he doesn't come under the perview of such tax liability.
If the service of that person is not in that list, it means that tax shall be payable for that service.
Then the limit for Rs. 9,00,000/- and Rs. 10,00,000/- comes into picture.
If the value of the service provided exceeds or reaches Rs. 9,00,000/- in any year, the person needs to get himself registered with CBEC (Central Board of Excise and Customs) within 30 days of gaining such value.
Later on crossing Rs. 10,00,000/- in any year the person becomes liable to pay service tax every year from that year onwards.
CA Chandra Shekhar
(CA Practice )
(88 Points)
Replied 18 September 2012
Help Please! Service Tax Filing, Any ICAI recognized software available?
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 18 September 2012
To decide the service tax liability
First, decide it is taxabale service or not
second, then value of taxable service are exceeds Rs. 9 lakh, then register with Service tax depart
third, then if value of taxable service are exceeds Rs. 10 lakh, then pay the tax on above Rs. 10 lakh in first year
and in second year pay the tax on all values, if previous year taxable service value exceeds rs 10 lakh.
To pay the tax, consider point of taxation.
For further query, u can write me at moh.arif4ca @ live.in
Deepak Purohit
(Accountant)
(34 Points)
Replied 28 September 2012
Thanks for sending off useful information on service tax.
Chandra ji if you will visit www.icai.org.in site you will find free software to download for your purpose.
Deepak Purohit
(Accountant)
(34 Points)
Replied 28 September 2012
Thanks for sending off useful information on service tax.
Chandra ji if you will visit www.icai.org.in site you will find free software to download for your purpose.
CA Chandra Shekhar
(CA Practice )
(88 Points)
Replied 28 September 2012
Deepak,
Now how i get CD key?
Anil Mangrulkar
(CA)
(23 Points)
Replied 28 September 2012
CA Chandra Shekhar,
Finding CD key of ICAI Tax Suit is easy. I am sharing a link below please follow that link and you will get key on your email id. You can email at support @ kdksoftware.com for any assistance.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)