anonimas (abc) (61 Points)
21 December 2013Hi,
This refers to the service tax catagories as below
1) Consulting Engineers
2) Providing Professional training
3) Providing Job oriented training
4) Providing training to foreign students
Kindly advise whether these are part of service tax negative list.
If not, what are the servise tax rates for these services?
Thank you in advance.
Arun Kumar Singh
(GST Advocate)
(15203 Points)
Replied 21 December 2013
All services are covered under the taxable service and rate of duty will be applicble 12.36%.
anonimas
(abc)
(61 Points)
Replied 21 December 2013
Thank you Sir for your reply. I forgot to also add:
What is the limit of the revenues for these categories in the preceding year and the current year for the revenues to become taxable.
I see some references of the revenue limit of INR 10 lakh and INR 50 lakh in different places, hence the confusion. Please provide these limits for each of the catagories mentioned above.
Moreover, I also see some discussion on cash, mercantile, invoiced amounts. Do these refer to the amount actually received and amount invoiced? Please advise.
Thanks a lot.
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 21 December 2013
If the aggregate value of all the taxable service in the preceding year was less than Rs. 10 Lacs, then you can claim exemption of upto Rs. 10 Lacs in the current yeat. The threshold exemption is not for individual service but for all the taxable services provided from all the premises.
If your aggregate value in the preceding year was less than Rs. 50 Lacs, then you can pay service tax on receipt basis means as and when your clients/customers pay you for the service, otherwise, you have to follow the merchantile/accrual system. Means, you pay tax as and when you provide service or issue bill to your clients irrespective of when you receive the payment.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
