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Query abiut exception limit of 1000000

CA Manish Chainani (Business) (111 Points)

26 June 2013

suppse a service became taxable for 01.05.2011 so wheather the amount of services given in 01.04.2011 to 30.04.2011 is counted for the limit of 1000000.00

thanks in advance

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4 Replies

anil mishra (Student CMA) (33 Points)
Replied 26 June 2013

yes it will be included for calculating limit of rs 1000000 exemption

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Mir Irshad Ali (Partner) (192 Points)
Replied 26 June 2013

If service is brought under Service Tax net from 01.05.2011 it appears that the amounts of service given from 01.04.11 to 30.04.11 will not be counted for the limit of 10,00,000 because as per definition the "aggregate value of Rs. 10,00,000/-" does not include payments received towards such gross amount which are exempt from whole of service tax leviable thereon under section 66 of the said Finance Act under any other notification.

Since the service provided from from 01.04.11 to 30.04.11 was exempted from service tax the value of the same will not be counted.

became taxable for 01.05.2011 so wheather the amount of services given in 01.04.2011 to 30.04.2011 is counted for the limit of 1000000.00

Read more at: /forum/query-abiut-exception-limit-of-1000000-254227.asp

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manoj (student) (5205 Points)
Replied 26 June 2013

from the date when service become taxable from that date u have to calculate exemption limit

Arun Kumar Singh (GST Advocate) (15203 Points)
Replied 27 June 2013

For the period of 1.4.2011 to 30.4.2011 value will not be enclude in 10 lakhs. Because before the 1.5.2011 services was exempted and exempted service will not be count for the purpose of SSI exemption.