Bindu jashwani (Internal Auditor SAM GRUOP OF INSTITUTIONS) (119 Points)
28 August 2014what is the exemption limit for small service providers and is it necessary to file declaration for being SSP. what is the limit for declaration.
Mayank Jain
(Student)
(575 Points)
Replied 28 August 2014
basic exemption limit for ssp is 10 lac
but at 9 lac u hv to register urself n get the service tax reg. no.
Accounting Home Services
(Finance Executive )
(734 Points)
Replied 28 August 2014
no need to submit any type of declration in ST department
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 28 August 2014
If your gross receipts from taxable services during the year exceed Rs. 9 Lacs, then you are required to apply for service tax registraiton in ST-1 form. The threshold limit is Rs. 10 Lacs for which no service tax is required to be paid as per notification no. 33/2012-ST. But if the aggregate value of all taxable services was exceeding Rs. 10 Lacs in the preceding Financial Year, then the benefit of threshold exemption of Rs.10 Lacs is not available. Also, any amount collected as representing service tax (whether taxable or not) must be paid to the credit of government.
Trainee
(Accounts Executive)
(325 Points)
Replied 28 August 2014
Udit Pandya
(Articled Assistant)
(41 Points)
Replied 28 August 2014
Nitika Bapna
(Student CA Final )
(29 Points)
Replied 29 August 2014
Nitika Bapna
(Student CA Final )
(29 Points)
Replied 29 August 2014
Pankaj mandwani
(Associate)
(25 Points)
Replied 29 August 2014
ranjan
(Ca)
(23 Points)
Replied 29 August 2014
Nitika Bapna
(Student CA Final )
(29 Points)
Replied 29 August 2014
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 29 August 2014
@ Nitika Yes, as the assessee crossed the limit of Rs. 10 Lacs during FY 2013-14, he is liable to pay service tax on Rs. 2 Lacs only. But, in the next FY 2014-15, the exemption is not available and service tax is payable from Re. 1 onwards.
sajjan Kumar Sharma
(Sr. Manager)
(22 Points)
Replied 30 August 2014
With reference to the provision "But if the aggregate value of all taxable services was exceeding Rs. 10 Lacs in the preceding Financial Year, then the benefit of threshold exemption of Rs.10 Lacs is not available. "
Taxability will be calculated as under If receipt from taxable services is as under:
FY 09-10 Rs. 8 Lacs
FY 10-11 Rs. 11 Lacs Taxable amount is Rs. 1 Lacs
FY 11-12 Rs. 7 Lacs Taxable amount is whole Rs. 7 Lacs
FY 12-13 Rs. 9.5 Lacs Nothing is taxable
Nitika Bapna
(Student CA Final )
(29 Points)
Replied 30 August 2014
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