Kumar (Legal Consultant) (358 Points)
12 April 2008Dear All,
Please provide me calrification on the following points.
what are the benefits, if a company being service provider registered under it.
what are the compliances.
what are the disadvantages if we not opt for registration.
what is the definition of equipment unedr this Act.
Thanking you in advance,
Best Regards,
Rakesh
Sumit Rai Bindlish
(CHARTERED ACCOUNTANT)
(41 Points)
Replied 12 April 2008
If your Annual Receipts is > Rs. 10 lacs in Current Financial year, It is Mandatory for Registration Under Financial Act , 1994
Benefits are : 1. You can claim the credit of Input service tax paid on all the services like telephone charges etc.
2. For Registration : Make an application in the Form ST-1.
CAclubindia
